Guideline Value for Selvam Nagar

Selvam Nagar guideline value

The current guideline value of Selvam Nagar, located in Sethamangalam village under the Sunguvarchattram SRO, is Rs 405 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Selvam Nagar has changed

Over the years, the guideline value of Selvam Nagar has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft, marking a decrease of 33%. Following this, the 2023 revision increased the value to Rs 400 per sq.ft, and the latest 2024 revision has raised it to Rs 405 per sq.ft, reflecting a 1% increase.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 1%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sethamangalam

In Sethamangalam village, there are 11 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 500 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value of Selvam Nagar is above this median.

• New Colony Third Street: Rs 250 per sq.ft (2024)
• New Colony Second Street: Rs 250 per sq.ft (2024)
• New Colony First Street: Rs 250 per sq.ft (2024)
• Viilage Perumal Kovil Street: Rs 300 per sq.ft (2024)
• Yes Kay Avenue: Rs 400 per sq.ft (2024)
• Madha Kovil Street: Rs 500 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 405 per sq.ft, the total guideline value amounts to Rs 4,05,000. The stamp duty at 7% would be Rs 28,350, and the registration fee at 2% would be Rs 8,100, making the total cost for these fees Rs 36,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selvam Nagar?

The Sub Registrar Office that covers Selvam Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sethamangalam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Selvam Nagar?

The current guideline value of Selvam Nagar is Rs 405 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 405 per sq.ft in 2024.

What is the land classification of Selvam Nagar?

Selvam Nagar is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

Where can I find the Sub Registrar Office for Selvam Nagar?

The Sub Registrar Office for Selvam Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 36,450.