Guideline Value for SelvaGanapathy Nagar

SelvaGanapathy Nagar guideline value

The current guideline value of SelvaGanapathy Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Thirupanthiyoor village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

How the guideline value of SelvaGanapathy Nagar has changed

The guideline value for SelvaGanapathy Nagar has undergone several revisions over the years. In 2012, the guideline value was set at Rs 350 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease of 33% to Rs 234 per sq.ft. Following this, the 2023 revision brought the value back up to Rs 350 per sq.ft, which was maintained in the 2024 revision, indicating no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The overall change from 2012 to 2024 shows no increase, maintaining the 2012 guideline value of Rs 350 per sq.ft.

Guideline values in Thirupanthiyoor

Thirupanthiyoor village has a total of 53 streets under the Sunguvarchattram SRO, with the 2024 guideline values ranging from Rs 200 to Rs 900 per sq.ft. The median guideline value for these streets is Rs 350 per sq.ft, placing SelvaGanapathy Nagar at this median value.

• Sebastian Avenue: Rs 200 per sq.ft (2024)
• Saveriayar Street: Rs 350 per sq.ft (2024)
• Sirumalar street: Rs 350 per sq.ft (2024)
• Sagayamatha street: Rs 350 per sq.ft (2024)
• Royal City: Rs 700 per sq.ft (2024)
• Punitha Annal street: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in SelvaGanapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty, charged at 7%, would be Rs 24,500, while the registration fee at 2% would be Rs 7,000, bringing the total costs together to Rs 31,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SelvaGanapathy Nagar?

The Sub Registrar Office that covers SelvaGanapathy Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Thirupanthiyoor, as it determines the minimum value at which a property can be registered. This value is essential for calculating the stamp duty and registration fees, which are mandatory during the registration process.

When a buyer or seller engages in a property transaction, the guideline value ensures that the property is not undervalued, thus safeguarding the interests of the government in terms of revenue collection. It is important for buyers to be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of SelvaGanapathy Nagar?

The current guideline value of SelvaGanapathy Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a decrease in 2017 to Rs 234 per sq.ft, followed by a return to Rs 350 per sq.ft in 2023 and 2024. Overall, the value has remained the same from 2012 to 2024.

What are the other guideline values in Thirupanthiyoor?

In Thirupanthiyoor, other streets have varying guideline values, with rates ranging from Rs 200 to Rs 900 per sq.ft. The median value is Rs 350 per sq.ft, which is equal to the guideline value of SelvaGanapathy Nagar.

What fees are associated with property registration in SelvaGanapathy Nagar?

When registering property in SelvaGanapathy Nagar, the fees include a stamp duty of 7% and a registration fee of 2% on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for SelvaGanapathy Nagar?

The Sub Registrar Office for SelvaGanapathy Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find more details online.