Guideline Value for Selva Vinayagar Koil Street

Selva Vinayagar Koil Street guideline value

The current guideline value of Selva Vinayagar Koil Street is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Thandalam village, under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Selva Vinayagar Koil Street has changed

Over the years, the guideline value for Selva Vinayagar Koil Street has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 990 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 900 per sq.ft. Prior to that, the 2017 revision recorded a guideline value of Rs 603 per sq.ft, marking an increase of 49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has risen by 64%.

It is important to note that the guideline value register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the revisions we have are from 2017, 2023, and the current 2024 value.

Guideline values in Thandalam

In Thandalam, there are 56 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,210 per sq.ft, indicating that Selva Vinayagar Koil Street's 2024 figure is below this median.

• Selva Vinayagar Koil Street (ward 2): Rs 990 per sq.ft (2024)
• Selva Vinayagar Koil Street (ward 4): Rs 990 per sq.ft (2024)
• Sri Ambal Nagar: Rs 1,210 per sq.ft (2024)
• Sri Avenue: Rs 880 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 1,210 per sq.ft (2024)
• R.K. Vallarasu Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, making the total cost for these fees Rs 89,100. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selva Vinayagar Koil Street?

The Sub Registrar Office that covers Selva Vinayagar Koil Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Thandalam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Proper understanding of these values helps in ensuring compliance with local regulations during property dealings.

Frequently asked questions

What is the current guideline value of Selva Vinayagar Koil Street?

The current guideline value of Selva Vinayagar Koil Street is Rs 990 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 603 per sq.ft in 2017 to Rs 990 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 9,90,000, the total fees would amount to Rs 89,100.

Which Sub Registrar Office covers Selva Vinayagar Koil Street?

The Pammal Sub Registrar Office covers Selva Vinayagar Koil Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Selva Vinayagar Koil Street?

Selva Vinayagar Koil Street is classified as Residential Class II Type - I, which indicates the type of development permissible in the area.