Guideline Value for Selva Vinayagar Koil Cross Street (Iyappan nagar)

Selva Vinayagar Koil Cross Street (Iyappan nagar) guideline value

The current guideline value for Selva Vinayagar Koil Cross Street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Selva Vinayagar Koil Cross Street (Iyappan nagar) has changed

The guideline value for Selva Vinayagar Koil Cross Street has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,600 per sq.ft in 2012. However, it saw a decrease to Rs 1,072 per sq.ft in 2017. Following this, the value rose to Rs 1,600 per sq.ft in 2023, and currently stands at Rs 1,700 per sq.ft from the 2024 revision. The changes between these revisions include a 300% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 6% increase from 2023 to 2024.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,300 per sq.ft, making the current value of Selva Vinayagar Koil Cross Street above that median.

• Selva Vinayagar Koil Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Seethammal Street (Rajammal nagar): Rs 1,300 per sq.ft (2024)
• Shankar Avenue: Rs 1,600 per sq.ft (2024)
• Santhu street: Rs 880 per sq.ft (2024)
• Santhosh nagar 2nd street (Santhosh nagar): Rs 1,100 per sq.ft (2024)
• Santhosh nagar 1st Street (Santhosh Nagar): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Vinayagar Koil Cross Street (Iyappan nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selva Vinayagar Koil Cross Street (Iyappan nagar)?

The Sub Registrar Office that covers Selva Vinayagar Koil Cross Street (Iyappan nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ayappakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Selva Vinayagar Koil Cross Street (Iyappan nagar)?

The current guideline value of Selva Vinayagar Koil Cross Street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, showing an overall increase of 325% over the years.

What is the land classification for this area?

The land classification for Selva Vinayagar Koil Cross Street (Iyappan nagar) is Residential Special Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Selva Vinayagar Koil Cross Street (Iyappan nagar) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for property in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at 7%.