Guideline Value for SelvaGanapathy Street

SelvaGanapathy Street guideline value

The current guideline value of SelvaGanapathy Street is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Molachoor village under the Sunguvarchattram SRO, classified as Residential Special Type - III.

How the guideline value of SelvaGanapathy Street has changed

Over the years, the guideline value for SelvaGanapathy Street has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. Following this, the value increased significantly to Rs 600 per sq.ft in both the 2023 and 2024 revisions, representing a 49% increase from the 2017 figure. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2024, the overall guideline value remained stable at Rs 600 per sq.ft, with no percentage change. The consistency in the 2023 and 2024 revisions indicates a steady valuation for this street in the current market context.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. SelvaGanapathy Street's 2024 figure aligns perfectly with this median.

• School Street: Rs 600 per sq.ft (2024)
• Sathya Nagar: Rs 605 per sq.ft (2024)
• SaraCisilia Avenue: Rs 605 per sq.ft (2024)
• Santha Nagar Extension: Rs 1,000 per sq.ft (2024)
• Santha Nagar: Rs 600 per sq.ft (2024)
• Sakthi Vinayagar Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in SelvaGanapathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It's important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SelvaGanapathy Street?

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

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

The guideline value plays a crucial role in property transactions in Molachoor, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties adhere to the legal requirements set by the Registration Department.

During the registration process, the guideline value is considered to protect the interests of the state and ensure that property transactions are accurately reflected in official records. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration of their property.

Frequently asked questions

What is the current guideline value of SelvaGanapathy Street?

The current guideline value of SelvaGanapathy Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft in the 2023 and 2024 revisions, after a drop to Rs 402 per sq.ft in 2017. The value was Rs 600 per sq.ft in 2012, indicating fluctuations in previous years.

What is the land classification for SelvaGanapathy Street?

SelvaGanapathy Street is classified as Residential Special Type - III under the current guidelines.

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

The Sub Registrar Office for SelvaGanapathy Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 6,00,000 would incur a stamp duty of Rs 42,000 at a rate of 7%.