Guideline Value for Selvam Nagar 4th Cross st ( Ward No.23 )

Selvam Nagar 4th Cross st ( Ward No.23 ) guideline value

The current guideline value of Selvam Nagar 4th Cross st ( Ward No.23 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Selvam Nagar 4th Cross st ( Ward No.23 ) has changed

The guideline value for Selvam Nagar 4th Cross st has seen significant changes over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. With the 2024 revision, the value increased to Rs 2,200 per sq.ft, marking a change of +64% from the previous revision.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street. The most recent revision indicates a notable increase in the guideline value, reflecting changes in the area.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, placing the 2024 guideline value of Selvam Nagar 4th Cross st above this median.

• Selvam Nagar 3rd Cross st ( Ward No.23 ): Rs 2,200 per sq.ft (2024)
• Selvam Nagar 5th Cross st ( Ward No.23 ): Rs 2,200 per sq.ft (2024)
• Selvam Nagar 2nd Cross st ( Ward No.23 ): Rs 2,200 per sq.ft (2024)
• Selvam Nagar Extension: Rs 2,200 per sq.ft (2024)
• Selvam Nagar Extension,Ponniammanmedu (Ward-23): Rs 2,200 per sq.ft (2024)
• Selvam Nagar 1st Cross st ( Ward No.23 ): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Selvam Nagar 4th Cross st ( Ward No.23 )

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. Duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selvam Nagar 4th Cross st ( Ward No.23 )?

The Sub Registrar Office that covers Selvam Nagar 4th Cross st ( Ward No.23 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process of property transactions. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives an appropriate amount in taxes from property transactions.

Frequently asked questions

What is the current guideline value of Selvam Nagar 4th Cross st?

The current guideline value of Selvam Nagar 4th Cross st ( Ward No.23 ) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, which is a change of +64%.

Are there any years without a guideline value for this street?

Yes, the guideline value register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Selvam Nagar 4th Cross st.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Selvam Nagar 4th Cross st?

The Madhavaram Sub Registrar Office handles the registration for Selvam Nagar 4th Cross st, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.