Guideline Value for SelvaPuram Part-II

SelvaPuram Part-II guideline value

The current guideline value of SelvaPuram Part-II is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Sokandi village, under the Sunguvarchattram SRO, and is classified as Industries Type - I.

How the guideline value of SelvaPuram Part-II has changed

Looking at the historical revisions, the guideline value for SelvaPuram Part-II has seen several changes. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision at Rs 201 per sq.ft, reflecting a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, returning to Rs 300 per sq.ft. The 2024 revision has maintained this rate, showing 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. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 300 per sq.ft.

Guideline values in Sokandi

In Sokandi village, there are 35 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 181 to Rs 1,000 per sq.ft. The median value is Rs 300 per sq.ft, which is equal to the guideline value of SelvaPuram Part-II.

• Selvapuram Part-I: Rs 300 per sq.ft (2024)
• Selvapuram Nagar Ext: Rs 600 per sq.ft (2024)
• Selvapuram: Rs 300 per sq.ft (2024)
• Sebastian Avenue: Rs 450 per sq.ft (2024)
• Sharma Nagar: Rs 250 per sq.ft (2024)
• Sagaya Annai Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in SelvaPuram Part-II

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SelvaPuram Part-II?

The Sub Registrar Office that covers SelvaPuram Part-II 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 Sokandi

The guideline value is a crucial factor when buying or selling property in Sokandi. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is set by the government and can change periodically based on revisions.

When a property is sold, the guideline value serves as a benchmark for the transaction. It ensures that the property is registered at a value that reflects its worth according to government standards, thus facilitating a transparent process for both buyers and sellers.

Frequently asked questions

What is the current guideline value for SelvaPuram Part-II?

The current guideline value for SelvaPuram Part-II is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2012 to 2024, with a decrease to Rs 201 per sq.ft in 2017, and an increase of 49% from 2017 to 2023.

What is the classification of land in SelvaPuram Part-II?

SelvaPuram Part-II is classified as Industries Type - I, indicating its suitability for industrial purposes.

Where can I find the Sub Registrar Office for SelvaPuram Part-II?

The Sub Registrar Office for SelvaPuram Part-II is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in SelvaPuram Part-II?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.