Guideline Value for Selvam Nagar Extn Natesan Main Road (Ward-23)

Selvam Nagar Extn Natesan Main Road (Ward-23) guideline value

The current guideline value of Selvam Nagar Extn Natesan Main Road (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 Natesan Main Road (Ward-23) has changed

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

The increase from 2017 to 2024 reflects a substantial rise in the guideline value, indicating a shift in the valuation of properties in this area. The absence of registered figures for previous years suggests that the valuation process may have been less active during those periods.

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 of Selvam Nagar Extn Natesan Main Road (Ward-23) is above this median.

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

Stamp duty and registration fee for property in Selvam Nagar Extn Natesan Main Road (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 would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total 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 detailed calculations.

Which Sub Registrar Office covers Selvam Nagar Extn Natesan Main Road (Ward-23)?

The Sub Registrar Office that covers Selvam Nagar Extn Natesan Main Road (Ward-23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

When buying or selling property in Madhavaram, the guideline value plays a crucial role in determining the registration fees and stamp duties. The guideline value is set by the government and is used as a benchmark for property transactions to ensure transparency and fair taxation.

During the registration process, 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 Extn Natesan Main Road (Ward-23)?

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

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, which is a change of +64%. There are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Selvam Nagar Extn Natesan Main Road (Ward-23)?

The land classification for Selvam Nagar Extn Natesan Main Road (Ward-23) is Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Madhavaram?

The Madhavaram Sub Registrar Office handles property registrations in Madhavaram. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.