Guideline Value for Selvamani Nagar

Selvamani Nagar guideline value

The current guideline value of Selvamani Nagar, located in Kathivakkam village under the Thiruvottiyur SRO, is Rs 1,001 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Selvamani Nagar has changed

The guideline value for Selvamani Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 104 per sq.ft, which increased to Rs 124 per sq.ft in 2003, marking a 19% rise. The value then rose significantly to Rs 200 per sq.ft in 2007, reflecting a 61% increase. Following this, the value surged to Rs 800 per sq.ft in 2012, a substantial 300% increase from the previous revision. However, from 2012 to 2017, the guideline value decreased to Rs 536 per sq.ft, a drop of 33%. The value then climbed to Rs 1,000 per sq.ft in 2023, followed by a slight increase to the current rate of Rs 1,001 per sq.ft in 2024, which represents a 0% change.

Overall, from 2002 to 2024, the guideline value has increased by 863%. The register has no figures for revisions in years not listed.

Guideline values in Kathivakkam

Kathivakkam village has 47 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median value is Rs 1,001 per sq.ft, which is the same as the guideline value for Selvamani Nagar.

• Sathya Nagar: Rs 1,100 per sq.ft (2024)
• Sastri Nagar: Rs 1,100 per sq.ft (2024)
• Sivanapadai Veethi: Rs 1,100 per sq.ft (2024)
• South Lock Road: Rs 1,000 per sq.ft (2024)
• South Pragaram Street: Rs 1,001 per sq.ft (2024)
• Rammmorthi Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Selvamani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value amounts to Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total cost for these fees to Rs 90,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selvamani Nagar?

The Selvamani Nagar area falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Kathivakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is documented at a recognized value.

When buying or selling property, both buyers and sellers should be aware of the guideline value, as it can impact the overall transaction costs. It is advisable to consult the latest guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Selvamani Nagar?

The current guideline value of Selvamani Nagar is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 104 per sq.ft in 2002 to Rs 1,001 per sq.ft in 2024, reflecting an overall increase of 863% over this period.

What is the registration office for Selvamani Nagar?

The registration office for Selvamani Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated in Selvamani Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 10,01,000 would incur a stamp duty of Rs 70,070 at 7%.

Where can I find more information about guideline values in Kathivakkam?

More information about guideline values in Kathivakkam can be found by checking the local registration department's guideline value register or visiting the relevant SRO.