Guideline Value for Selvam Nagar Extension,Ponniammanmedu (Ward-23)

Selvam Nagar Extension,Ponniammanmedu (Ward-23) guideline value

The current guideline value for Selvam Nagar Extension, Ponniammanmedu (Ward-23) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class I Type - I. The guideline value is determined by the Madhavaram SRO.

How the guideline value of Selvam Nagar Extension,Ponniammanmedu (Ward-23) has changed

The guideline value for Selvam Nagar Extension has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a significant increase from Rs 1,340 per sq.ft in 2017, representing a 64% rise. The value in 2012 was Rs 2,000 per sq.ft, which means there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

In Madhavaram, the guideline values vary across different streets. As of 2024, the figures range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Selvam Nagar Extension's guideline value is above this median, indicating a higher valuation compared to many other streets in the area.

• Selvam Nagar Extension: Rs 2,200 per sq.ft (2024)
• Selvam Nagar Extn Ethiraj St (Ward-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 Extn Mgr Salai (Ward-23): Rs 2,200 per sq.ft (2024)
• Selvam Nagar 4th Cross st (Ward No.23): Rs 2,200 per sq.ft (2024)
• Selvam Nagar Extn Natesan Main Road (Ward-23): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Selvam Nagar Extension,Ponniammanmedu (Ward-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, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Selvam Nagar Extension,Ponniammanmedu (Ward-23)?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of ownership. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Selvam Nagar Extension?

The current guideline value of Selvam Nagar Extension, Ponniammanmedu (Ward-23) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 2,000 per sq.ft to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 10%. The value decreased from Rs 2,000 in 2012 to Rs 1,340 in 2017, a change of -33%, before rising again by 64% to the current figure.

What is the land classification for Selvam Nagar Extension?

Selvam Nagar Extension is classified as Residential Class I Type - I, indicating its suitability for residential development and use.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registration activities for the area.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, 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.