Guideline Value for Selva Vinayagar Koil Street

Selva Vinayagar Koil Street guideline value

The current guideline value of Selva Vinayagar Koil Street is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Padappai village, under the Padappai SRO, and is classified as Residential Class IV Type - I.

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. In 2003, the value was Rs 30 per sq.ft, which increased to Rs 50 per sq.ft in 2007. The 2012 revision saw a significant jump to Rs 600 per sq.ft, followed by a decrease to Rs 402 per sq.ft in 2017. The value then rose to Rs 600 per sq.ft in 2023, and finally reached Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2100%. The register does not provide a figure for the year 2002 for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft, with a median value of Rs 830 per sq.ft. Selva Vinayagar Koil Street's current guideline value is below this median.

• Shakthi Nagar: Rs 1,320 per sq.ft (2024)
• Shanmuga Nagar: Rs 990 per sq.ft (2024)
• Sirumathur Road: Rs 1,320 per sq.ft (2024)
• Saraswathi Avenue: Rs 1,480 per sq.ft (2024)
• Sivan Nagar: Rs 1,320 per sq.ft (2024)
• Sivasakthi Nagar: Rs 660 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty is charged at 7%, resulting in Rs 46,200, while the registration fee is 2%, amounting to Rs 13,200. Together, the fees total Rs 59,400. 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 Street?

The Sub Registrar Office that covers Selva Vinayagar Koil Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

When buying or selling property in Padappai, the guideline value is a critical factor that determines the stamp duty and registration fees. It serves as a benchmark for the value of the property, ensuring that the fees are calculated appropriately based on the current rates.

The guideline value is also used by the registration authorities to assess the value of the property being transferred. This ensures that the government receives the correct amount of 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 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 30 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, reflecting a total increase of 2100% over this period.

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

For a property valued at Rs 6,60,000, the stamp duty is Rs 46,200 and the registration fee is Rs 13,200, totaling Rs 59,400.

Which office handles registrations for Selva Vinayagar Koil Street?

The Padappai Sub Registrar Office handles registrations for Selva Vinayagar Koil Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301.

What is the median guideline value in Padappai?

The median guideline value for streets in Padappai is Rs 830 per sq.ft, while Selva Vinayagar Koil Street's current value is below this median.