Guideline Value for Selva Vinayagar Koil Street

Selva Vinayagar Koil Street guideline value

The current guideline value of Selva Vinayagar Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, which falls under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Selva Vinayagar Koil Street has changed

The guideline value for Selva Vinayagar Koil Street has seen several revisions over the years. The earliest recorded guideline value was Rs 94 per sq.ft in 2002, which increased to Rs 103 per sq.ft in 2003. Following this, the value rose significantly to Rs 250 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017 before rising again to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase is a remarkable 1,709%. Notably, the jump from 2017 to 2023 was 49%, while the increase from 2023 to 2024 was 13%. The revisions reflect fluctuations in the guideline value over the years, with no figures recorded for any other years for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making the current value of Selva Vinayagar Koil Street below that median.

• Selvakumar Avenue: Rs 1,700 per sq.ft (2024)
• Sengeni Amman Koil 1st Street: Rs 1,700 per sq.ft (2024)
• Sengeni Amman Koil 2nd Street: Rs 1,700 per sq.ft (2024)
• Sengeni Amman Koil 3rd Street: Rs 1,700 per sq.ft (2024)
• Sengeni Amman Koil 4th Street: Rs 1,700 per sq.ft (2024)
• Sengeni Amman Koil Street: Rs 1,700 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 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 or the sale price.

For more details, 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 Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a transaction occurs, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 94 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1,709% over this period.

What are the stamp duty and registration fees for property in Selva Vinayagar Koil Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles the registration for Selva Vinayagar Koil Street?

The Neelankarai Sub Registrar Office handles the registration for Selva Vinayagar Koil Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Selva Vinayagar Koil Street?

Selva Vinayagar Koil Street is classified as Residential Class III Type - I, which indicates its suitability for residential purposes.