Guideline Value for Selvam Nagar Extn Mgr Salai (Ward-23)

Selvam Nagar Extn Mgr Salai (Ward-23) guideline value

The current guideline value of Selvam Nagar Extn Mgr Salai (Ward-23) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Selvam Nagar Extn Mgr Salai (Ward-23) has changed

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. The most recent revision in 2024 has increased this to Rs 2,200 per sq.ft, marking a significant change of +64%. There are no figures available for the revisions in the years 2023, 2012, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

In Madhavaram, 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, with a median value of Rs 1,600 per sq.ft. The guideline value for Selvam Nagar Extn Mgr Salai (Ward-23) is above this median.

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

Stamp duty and registration fee for property in Selvam Nagar Extn Mgr Salai (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, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Selvam Nagar Extn Mgr Salai (Ward-23)?

The Sub Registrar Office that covers Selvam Nagar Extn Mgr Salai (Ward-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 during the registration of property transactions in Madhavaram. It helps determine the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the guideline value is compared against the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

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

The current guideline value of Selvam Nagar Extn Mgr Salai (Ward-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 in 2024, which is a change of +64%.

What is the land classification for Selvam Nagar Extn Mgr Salai (Ward-23)?

The land classification for Selvam Nagar Extn Mgr Salai (Ward-23) is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Madhavaram Sub Registrar Office covers Selvam Nagar Extn Mgr Salai (Ward-23) and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000.