Guideline Value for Selva Vinayakar Koli Street

Selva Vinayakar Koli Street guideline value

The current guideline value of Selva Vinayakar Koli Street is Rs 2,640 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO, classified as Residential Class I Type - I.

How the guideline value of Selva Vinayakar Koli Street has changed

The guideline value for Selva Vinayakar Koli Street has undergone several revisions over the years. The 2007 revision recorded a value of Rs 350 per sq.ft, which significantly increased to Rs 2,400 per sq.ft in 2012, marking a rise of 586%. However, the value then decreased to Rs 1,608 per sq.ft in the 2017 revision, reflecting a decline of 33%. The 2023 revision set the value at Rs 2,400 per sq.ft, followed by the latest 2024 revision, which raised it to Rs 2,640 per sq.ft, an increase of 10%.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 654%. It is important to note that there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, placing Selva Vinayakar Koli Street's 2024 figure above that median.

• Selliyamman Koil Street: Rs 1,980 per sq.ft (2024)
• Senthil Nagar: Rs 2,310 per sq.ft (2024)
• Sekar Theru: Rs 2,310 per sq.ft (2024)
• Sekar Apartments: Rs 2,310 per sq.ft (2024)
• Senthur Murugan Avenue: Rs 2,310 per sq.ft (2024)
• Seshadri Paradise: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Selva Vinayakar Koli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value would be Rs 26,40,000. The stamp duty at 7% would amount to Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total fees to Rs 2,37,600. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selva Vinayakar Koli Street?

The Sub Registrar Office that covers Selva Vinayakar Koli 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Selva Vinayakar Koli Street?

The current guideline value of Selva Vinayakar Koli Street is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 350 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, an overall increase of 654%.

What is the land classification for Selva Vinayakar Koli Street?

Selva Vinayakar Koli Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur total fees of Rs 2,37,600.

Where is the Sub Registrar Office for Selva Vinayakar Koli Street located?

The Sub Registrar Office for Selva Vinayakar Koli Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.