Guideline Value for Selva Vinayagar Nagar

Selva Vinayagar Nagar guideline value

The current guideline value for Selva Vinayagar Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Selva Vinayagar Nagar has changed

Over the years, the guideline value of Selva Vinayagar Nagar has seen significant changes. The 2017 revision set the value at Rs 1,675 per sq.ft, which was increased to Rs 2,500 per sq.ft in the 2023 revision. The latest revision in 2024 raised the value further to Rs 2,700 per sq.ft, marking an increase of 8% from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 61%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which matches the current guideline value for Selva Vinayagar Nagar.

• Selvaraj Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Selvaraj Street: Rs 2,700 per sq.ft (2024)
• Selvaperumal Street: Rs 2,200 per sq.ft (2024)
• Selva Perumal Koil Street: Rs 2,700 per sq.ft (2024)
• Selvaperumal 2nd Street: Rs 2,200 per sq.ft (2024)
• Selvaperumal 1st Street: Rs 2,200 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selva Vinayagar Nagar?

The Sub Registrar Office that covers Selva Vinayagar Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kodungaiyur. It serves as the minimum value at which properties can be registered, ensuring that the state government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps determine the applicable stamp duty and registration fees. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Selva Vinayagar Nagar?

The current guideline value of Selva Vinayagar Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft in 2024, marking a total increase of 61% over this period.

What is the land classification of Selva Vinayagar Nagar?

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

Where can I find more information about the Sub Registrar Office?

The Madhavaram Sub Registrar Office covers Selva Vinayagar Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. More information can be found through the provided link.

How are stamp duties calculated for properties in Selva Vinayagar Nagar?

Stamp duties are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft property at the current guideline value would incur a total cost of Rs 2,43,000 in stamp duty and registration fees.