Guideline Value for Selvam Nagar

Selvam Nagar guideline value

The current guideline value of Selvam Nagar, located in Vallam village under the Chengleput Joint I SRO, is Rs 800 per sq.ft. This value is effective from the 1st of July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Selvam Nagar has changed

Over the years, the guideline value of Selvam Nagar has experienced several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 revision saw a significant increase from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023, marking a 49% increase. The 2023 revision also retained the value at Rs 800 per sq.ft, and the current 2024 revision maintains this value, indicating no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the guideline values from 2012 to 2024, there has been no change, with the value remaining at Rs 800 per sq.ft.

Guideline values in Vallam

In Vallam, there are 30 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Selvam Nagar's current guideline value is below this median.

• School Street: Rs 750 per sq.ft (2024)
• Shanthi Nagar: Rs 1,000 per sq.ft (2024)
• Sree Nagar: Rs 850 per sq.ft (2024)
• Sri AathiBakavathi Nagar: Rs 800 per sq.ft (2024)
• Sabari Nagar: Rs 850 per sq.ft (2024)
• Sri Balaji nagar: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Selvam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty, charged at 7%, would amount to Rs 56,000, while the registration fee at 2% would be Rs 16,000, bringing the total charges to Rs 72,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selvam Nagar?

The Sub Registrar Office that covers Selvam Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vallam. It determines the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value as per the government standards.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Selvam Nagar?

The current guideline value of Selvam Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft since the 2012 revision, with a significant increase from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023.

What is the land classification of Selvam Nagar?

Selvam Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

What are the stamp duty and registration fees for property in Selvam Nagar?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Which Sub Registrar Office covers Selvam Nagar?

The Chengleput Joint I Sub Registrar Office covers Selvam Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.