Guideline Value for Selvalakshmi Garden

Selvalakshmi Garden guideline value

The current guideline value of Selvalakshmi Garden is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Mogalivakkam village under the Kunrathur SRO, and the land classification is Residential Special Type - I.

How the guideline value of Selvalakshmi Garden has changed

The guideline value for Selvalakshmi Garden has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 750 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in 2012, marking a 260% rise. However, the value then decreased to Rs 1,809 per sq.ft in 2017, which was a decline of 33%. The value rebounded to Rs 2,700 per sq.ft in 2023, and subsequently increased by 10% to reach the current figure of Rs 2,970 per sq.ft in 2024.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 296%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Mogalivakkam

Mogalivakkam has a range of guideline values across its 98 streets under the Kunrathur SRO, with the 2024 figures ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value is Rs 2,970 per sq.ft, which is equal to the current guideline value of Selvalakshmi Garden.

• Selvalakshmi Nagar: Rs 2,970 per sq.ft (2024)
• Selva Ganapathi Nagar: Rs 2,970 per sq.ft (2024)
• Sekar Avenue Stage I & II: Rs 2,970 per sq.ft (2024)
• Sathya Nagar: Rs 2,970 per sq.ft (2024)
• Santhosh Nagar & Extension: Rs 2,970 per sq.ft (2024)
• Sivakami Nagar: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Selvalakshmi Garden

For a 1,000 sq.ft plot at the current rate of Rs 2,970 per sq.ft, the guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, together totaling Rs 2,67,300. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Selvalakshmi Garden?

The Selvalakshmi Garden area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Mogalivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately according to government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives appropriate revenue from property transactions based on the established guideline value.

Frequently asked questions

What is the current guideline value of Selvalakshmi Garden?

The current guideline value of Selvalakshmi Garden is Rs 2,970 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 750 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, marking an overall increase of 296% over the years.

What is the land classification for Selvalakshmi Garden?

Selvalakshmi Garden is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Selvalakshmi Garden?

The Kunrathur Sub Registrar Office, which covers Selvalakshmi Garden, is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for property in Selvalakshmi Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 at a rate of 7%.