Guideline Value for Selvaganapathi Koil Street North

Selvaganapathi Koil Street North guideline value

The current guideline value of Selvaganapathi Koil Street North is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Selvaganapathi Koil Street North has changed

The guideline value for Selvaganapathi Koil Street North has undergone several revisions over the years. In 2002, the value was Rs 221 per sq.ft, which increased to Rs 248 per sq.ft in 2003, marking a 12% rise. The value saw a significant jump to Rs 1,000 per sq.ft in 2007, representing a 303% increase. Following this, the value rose to Rs 2,500 per sq.ft in 2012, reflecting a 150% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, and most recently, it has risen to Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1167%. There are no figures available for revisions in years other than those mentioned.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with the median value being Rs 2,800 per sq.ft. The guideline value of Selvaganapathi Koil Street North is equal to this median.

• Selvaganapathi Koil Street: Rs 2,800 per sq.ft (2024)
• Selvaganapathi Koil Street South: Rs 2,800 per sq.ft (2024)
• Seenivasa Street: Rs 3,900 per sq.ft (2024)
• Sengazhani Amman Street: Rs 2,200 per sq.ft (2024)
• Sathiyanarayana Street: Rs 3,900 per sq.ft (2024)
• S I S I Colony: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Selvaganapathi Koil Street North

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selvaganapathi Koil Street North?

The Sub Registrar Office that covers Selvaganapathi Koil Street North is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is sold, the guideline value helps in establishing the official value of the property for registration purposes. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Selvaganapathi Koil Street North?

The current guideline value of Selvaganapathi Koil Street North is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 221 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1167% over this period.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles property registrations in Ullagaram?

The Alandur Sub Registrar Office handles property registrations in Ullagaram, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Selvaganapathi Koil Street North?

Selvaganapathi Koil Street North is classified as Residential Class II Type - I, indicating its suitability for residential purposes.