Guideline Value for Selvam Nagar Extn Ethiraj St (Ward-23)

Selvam Nagar Extn Ethiraj St (Ward-23) guideline value

The current guideline value of Selvam Nagar Extn Ethiraj St (Ward-23) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Selvam Nagar Extn Ethiraj St (Ward-23) has changed

The guideline value for Selvam Nagar Extn Ethiraj St has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. The most recent revision in 2024 shows a significant increase to Rs 2,200 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street. The 2012 to 2017 revision reflects a decrease of 33%, indicating fluctuations in the guideline value over the years.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median value is Rs 1,600 per sq.ft, positioning Selvam Nagar Extn Ethiraj St's 2024 figure above this median.

• Selvam Nagar Extension, Ponniammanmedu (Ward-23): Rs 2,200 per sq.ft (2024)
• Selvam Nagar Extn Mgr Salai (Ward-23): Rs 2,200 per sq.ft (2024)
• Selvam Nagar Extension: Rs 2,200 per sq.ft (2024)
• Selvam Nagar Extn Natesan Main Road (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 Thangarajsalai (Ward-23): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Selvam Nagar Extn Ethiraj St (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 at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the 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 on calculating these fees.

Which Sub Registrar Office covers Selvam Nagar Extn Ethiraj St (Ward-23)?

The Sub Registrar Office that covers Selvam Nagar Extn Ethiraj St (Ward-23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that transactions are conducted fairly and transparently.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This process helps maintain consistency in property transactions across the region.

Frequently asked questions

What is the current guideline value of Selvam Nagar Extn Ethiraj St (Ward-23)?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024.

What is the land classification for Selvam Nagar Extn Ethiraj St (Ward-23)?

Selvam Nagar Extn Ethiraj St (Ward-23) is classified as Residential Class I Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.