Guideline Value for Selvaganapathy Nagar Annex

Selvaganapathy Nagar Annex guideline value

The current guideline value of Selvaganapathy Nagar Annex is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Pothur village under the Redhills SRO, classified as Residential Class I Type - I.

How the guideline value of Selvaganapathy Nagar Annex has changed

The guideline value for Selvaganapathy Nagar Annex has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 500 per sq.ft, and the most recent 2024 revision has raised it to Rs 550 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pothur

In Pothur, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 2,000 per sq.ft, with the median value being Rs 550 per sq.ft. The guideline value for Selvaganapathy Nagar Annex aligns with this median.

• Selva Ganapathi Nagar: Rs 550 per sq.ft (2024)
• Sarathi Nagar: Rs 440 per sq.ft (2024)
• Sai Kiruba Nagar: Rs 1,480 per sq.ft (2024)
• Sri Bhavani Nagar: Rs 550 per sq.ft (2024)
• Roja Nagar: Rs 365 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Selvaganapathy Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost Rs 49,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selvaganapathy Nagar Annex?

The Selvaganapathy Nagar Annex falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pothur, as it determines the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must refer to the current guideline value to calculate these costs accurately.

When registering a property, the guideline value is used to ensure that the transaction is documented at a fair value, which helps in maintaining transparency in real estate transactions. It is essential for both parties to be aware of the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Selvaganapathy Nagar Annex?

The current guideline value for Selvaganapathy Nagar Annex is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Selvaganapathy Nagar Annex?

Selvaganapathy Nagar Annex is classified as Residential Class I Type - I.

Where can I find the registration office for Selvaganapathy Nagar Annex?

The registration office for Selvaganapathy Nagar Annex is the Redhills Sub Registrar Office located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Pothur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at a rate of 7%.