Guideline Value for Selvam Nagar 5th Cross st ( Ward No.23 )

Selvam Nagar 5th Cross st ( Ward No.23 ) guideline value

The current guideline value for Selvam Nagar 5th 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 jurisdiction of the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Selvam Nagar 5th Cross st ( Ward No.23 ) has changed

The guideline value register shows that there have been no figures listed for Selvam Nagar 5th Cross st in the revisions of 2023, 2017, 2012, 2007, 2003, and 2002. The only available figure is from the 2024 revision, which is Rs 2,200 per sq.ft.

Since there are no prior figures for this street, the 2024 revision stands alone as the current guideline value. There have been no changes between the revisions above for this specific street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 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 guideline value for these streets is Rs 1,600 per sq.ft, placing Selvam Nagar 5th Cross st above this median.

• Selvam Nagar 4th Cross st ( Ward No.23 ): Rs 2,200 per sq.ft (2024)
• Selvam Nagar Extension: Rs 2,200 per sq.ft (2024)
• Selvam Nagar 3rd Cross st ( Ward No.23 ): Rs 2,200 per sq.ft (2024)
• Selvam Nagar Extension,Ponniammanmedu (Ward-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 Extn Ethiraj St (Ward-23): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Selvam Nagar 5th Cross st ( Ward No.23 )

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling Rs 1,98,000. 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 information.

Which Sub Registrar Office covers Selvam Nagar 5th Cross st ( Ward No.23 )?

The Sub Registrar Office that covers Selvam Nagar 5th 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 a crucial factor when buying or selling property in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately for taxation purposes.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Selvam Nagar 5th Cross st ( Ward No.23 )?

The current guideline value of Selvam Nagar 5th Cross st ( Ward No.23 ) is Rs 2,200 per sq.ft, effective from 1 July 2024.

What land classification does Selvam Nagar 5th Cross st ( Ward No.23 ) fall under?

Selvam Nagar 5th Cross st ( Ward No.23 ) is classified as Residential Class I Type - I.

Are there any previous guideline values for Selvam Nagar 5th Cross st?

No, the guideline value register shows that there are no figures for Selvam Nagar 5th Cross st in the revisions of 2023, 2017, 2012, 2007, 2003, and 2002.

How is the stamp duty calculated for properties in Selvam Nagar 5th Cross st?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.

Where is the Sub Registrar Office for Selvam Nagar 5th Cross st located?

The Sub Registrar Office for Selvam Nagar 5th Cross st is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.