Guideline Value for Selva Vinayagar Koil Street

Selva Vinayagar Koil Street guideline value

The current guideline value of Selva Vinayagar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, classified as Residential Class I Type - II.

How the guideline value of Selva Vinayagar Koil Street has changed

The guideline value for Selva Vinayagar Koil Street has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 144 per sq.ft. This increased significantly to Rs 350 per sq.ft in 2007, marking a change of +143%. The 2017 revision saw a substantial rise to Rs 1,340 per sq.ft, reflecting an increase of +283%. The most recent 2023 revision set the value at Rs 2,000 per sq.ft, which was a +49% change from the previous figure. The current 2024 revision increased the guideline value to Rs 2,200 per sq.ft, representing a +10% change from 2023. The register has no figures for the years 2002 and 2012 for this street.

Guideline values in Thiruneermalai

In Thiruneermalai village, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, placing Selva Vinayagar Koil Street's 2024 figure below that median.

• Serasa Sunrise Avenue: Rs 6,240 per sq.ft (2024)
• School Street / Lakshmipuram: Rs 2,860 per sq.ft (2024)
• Saraswathipuram Extn 2nd Street: Rs 2,860 per sq.ft (2024)
• Saraswathipuram Extn 1st Street: Rs 2,860 per sq.ft (2024)
• Saraswathipuram Extn.: Rs 2,860 per sq.ft (2024)
• Saraswathipuram 3rd Main Road: Rs 2,860 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

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, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the registration fees and stamp duty that are payable during the transaction. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to understand how this value impacts their financial obligations during the registration process.

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 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 144 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, which is an overall increase of +1428%.

What is the land classification for Selva Vinayagar Koil Street?

Selva Vinayagar Koil Street is classified as Residential Class I Type - II.

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

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

How is stamp duty calculated for properties in Thiruneermalai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.