Guideline Value for Selvalakshmi Nagar

Selvalakshmi Nagar guideline value

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

How the guideline value of Selvalakshmi Nagar has changed

The guideline value for Selvalakshmi Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 600 per sq.ft. It increased significantly to Rs 2,700 per sq.ft in 2012, marking a 350% rise. However, it then saw a decrease to Rs 1,809 per sq.ft in 2017, a drop of 33%. The next revision in 2023 set the value at Rs 2,700 per sq.ft, followed by the current figure of Rs 2,970 per sq.ft in 2024, which represents a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 395%.

Guideline values in Mogalivakkam

Mogalivakkam has a total of 98 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, which is the same as the current value for Selvalakshmi Nagar.

• Selvalakshmi Garden: 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 Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total 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, bringing the total fees together to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Selvalakshmi Nagar?

The Sub Registrar Office that covers Selvalakshmi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more details, you can find your SRO.

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

The guideline value is an essential factor when registering property transactions in Mogalivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value will be referenced to calculate the applicable fees, and it is crucial to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Selvalakshmi Nagar?

The current guideline value of Selvalakshmi Nagar 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 from Rs 600 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, marking an overall increase of 395% over the years.

What are the other streets in Mogalivakkam with the same guideline value?

Other streets in Mogalivakkam with the same guideline value of Rs 2,970 per sq.ft include Selvalakshmi Garden, Selva Ganapathi Nagar, Sekar Avenue Stage I & II, Sathya Nagar, Santhosh Nagar & Extension, and Sivakami Nagar.

What fees are applicable when registering property in Selvalakshmi Nagar?

When registering property in Selvalakshmi Nagar, the applicable fees include a stamp duty of 7% on the guideline value and a registration fee of 2% on the same value.

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

The Sub Registrar Office for Selvalakshmi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.