Guideline Value for Selva Vinayagar Nagar

Selva Vinayagar Nagar guideline value

The current guideline value of Selva Vinayagar Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This locality is situated in Chennerkuppam village, under the Kunrathur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Selva Vinayagar Nagar has changed

The guideline value for Selva Vinayagar Nagar has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it dropped to Rs 804 per sq.ft in 2017. The value then rose to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft from the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2012, there was a substantial increase of 140%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 164%.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft, with a median value of Rs 1,540 per sq.ft. The guideline value of Selva Vinayagar Nagar is below this median.

• Selva Ganapathi Nagar: Rs 1,430 per sq.ft (2024)
• Seervi Nagar: Rs 1,320 per sq.ft (2024)
• Sastha Nagar: Rs 1,430 per sq.ft (2024)
• Sarva Ganapthi Nagar: Rs 1,430 per sq.ft (2024)
• Sindu Nagar: Rs 1,540 per sq.ft (2024)
• Sippai Nagar: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Vinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that 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 Nagar?

Selva Vinayagar Nagar falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chennerkuppam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, 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.

Frequently asked questions

What is the current guideline value of Selva Vinayagar Nagar?

The current guideline value of Selva Vinayagar Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, with several fluctuations in between, including a decrease in 2017.

What is the land classification of Selva Vinayagar Nagar?

Selva Vinayagar Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, on a 1,000 sq.ft plot, the total fees would be Rs 1,18,800.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in Selva Vinayagar Nagar.