Guideline Value for Selvam Nagar

Selvam Nagar guideline value

The current guideline value of Selvam Nagar, located in Kolathur village under the Sembiam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Selvam Nagar has changed

The guideline value for Selvam Nagar has undergone several revisions over the years. In the 2002 revision, the value was Rs 179 per sq.ft. This increased to Rs 195 per sq.ft in 2003, marking a change of +9%. The 2007 revision saw a significant rise to Rs 700 per sq.ft, which was an increase of +259%. However, in the 2012 revision, the value dropped to Rs 4,000 per sq.ft, reflecting a decrease of -33%. The guideline value then remained at Rs 4,000 per sq.ft until the 2017 revision, where it increased to Rs 2,680 per sq.ft, a rise of +49%. The 2023 revision set the value at Rs 4,000 per sq.ft, and the latest 2024 revision has raised it to Rs 4,400 per sq.ft, an increase of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +2,358%. There are no figures available for the revisions in the years not mentioned for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Selvam Nagar's current guideline value is above this median.

• Selliamman Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Selliamman Nagar Extension: Rs 3,300 per sq.ft (2024)
• Selliamman Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Selliamman Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Selliamman Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Selliamman Nagar 3rd Street: Rs 3,300 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 details.

Which Sub Registrar Office covers Selvam Nagar?

The Sembiam Sub Registrar Office covers Selvam Nagar, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. This value helps in establishing a fair transaction process and ensures that all parties involved adhere to the legal requirements set forth by the authorities.

Frequently asked questions

What is the current guideline value of Selvam Nagar?

The current guideline value of Selvam Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 179 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of +2,358%.

What is the land classification of Selvam Nagar?

Selvam Nagar is classified as Residential Special Type - I.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000.

Which Sub Registrar Office covers Selvam Nagar?

The Sembiam Sub Registrar Office covers Selvam Nagar, located at 5, Papermills Road, Sembiam, Chennai - 600011.