Guideline Value for Selvaganapathy Street

Selvaganapathy Street guideline value

The current guideline value of Selvaganapathy Street is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Vilangadupakkam village, under the Redhills SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Selvaganapathy Street has changed

The guideline value for Selvaganapathy Street has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012, marking a 100% rise. However, in 2017, the value dropped to Rs 268 per sq.ft, reflecting a decrease of 33%. The value then rose significantly to Rs 400 per sq.ft in 2023, and the latest revision in 2024 has established the current guideline value at Rs 440 per sq.ft, indicating a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft, with the median value being Rs 440 per sq.ft. Selvaganapathy Street's 2024 guideline value is equal to this median.

• Saravanan Nagar: Rs 550 per sq.ft (2024)
• Saraswathi Nagar: Rs 550 per sq.ft (2024)
• Sapthagirivasa Nagar II: Rs 440 per sq.ft (2024)
• Sapthagirivasa Nagar: Rs 440 per sq.ft (2024)
• Sirushti Nagar: Rs 440 per sq.ft (2024)
• Sirushti Nagar Annex: Rs 440 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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty, charged at 7%, amounts to Rs 30,800, while the registration fee at 2% is Rs 8,800, bringing the total fees together to Rs 39,600. It is important to note that the 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 Selvaganapathy Street?

The Sub Registrar Office that covers Selvaganapathy Street is 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 Vilangadupakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Vilangadupakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Selvaganapathy Street?

The current guideline value of Selvaganapathy Street is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, showing an overall increase of 120% over the years.

What are the registration fees for property transactions?

The registration fees for property transactions are calculated based on the guideline value. For example, on a property valued at Rs 4,40,000, the registration fee would be Rs 8,800 at 2%.

Which office handles the registration of properties in Selvaganapathy Street?

The Redhills Sub Registrar Office handles the registration of properties in Selvaganapathy Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value?

The guideline value is significant as it determines the stamp duty and registration fees applicable during property transactions. It serves as an official valuation for properties in the area.