Guideline Value for Selvam Nagar, Lakshmipuram (Ward-25)

Selvam Nagar, Lakshmipuram (Ward-25) guideline value

The current guideline value of Selvam Nagar, Lakshmipuram (Ward-25) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is part of Madhavaram village, under the Madhavaram Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Selvam Nagar, Lakshmipuram (Ward-25) has changed

The guideline value for Selvam Nagar, Lakshmipuram has seen significant changes over the years. In the 2017 revision, the value was set at Rs 1,340 per sq.ft. With the latest revision in 2024, the value increased to Rs 2,200 per sq.ft, marking a change of +64% from the previous figure.

It is important to note that the register does not contain figures for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street. Therefore, the only revisions with figures are from 2017 and 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO carrying 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, Lakshmipuram is above this median.

• Selvam Nagar Main Rd (Ward No.23): Rs 2,200 per sq.ft (2024)
• Selvam Nagar Extn Thiyagarajansalai (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 Natesan Main Road (Ward-23): Rs 2,200 per sq.ft (2024)
• Selvam Nagar (Ponniamman Medu) (Ward-23): Rs 2,200 per sq.ft (2024)
• Selvam Nagar Extn Mgr Salai (Ward-23): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Selvam Nagar, Lakshmipuram (Ward-25)

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 to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selvam Nagar, Lakshmipuram (Ward-25)?

The Madhavaram Sub Registrar Office covers Selvam Nagar, Lakshmipuram (Ward-25). The office is 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 is a critical factor in the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the value of the property in the context of the local market. It is essential to be aware of the current guideline value to ensure compliance with legal and financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Selvam Nagar, Lakshmipuram (Ward-25)?

The current guideline value of Selvam Nagar, Lakshmipuram (Ward-25) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since the last revision?

Since the last revision in 2017, the guideline value has increased by +64%, from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024.

Are there any revisions without figures for Selvam Nagar?

Yes, the register does not contain figures for the revisions in 2023, 2012, 2007, 2003, and 2002 for Selvam Nagar.

What is the classification of land in Selvam Nagar?

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

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 registration for properties in the area.