Guideline Value for Selvammal Street

Selvammal Street guideline value

The current guideline value of Selvammal Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Selvammal Street has changed

According to the guideline value register, there are no figures available for Selvammal Street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision recorded a guideline value of Rs 7,000 per sq.ft, which increased by 10% to Rs 7,700 per sq.ft in the 2024 revision.

This change reflects a notable increase in the guideline value, moving from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. The current value is now established as the latest revision effective from 1 July 2024.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, indicating that Selvammal Street's 2024 figure is below this median.

• Seethamma Road Extention: Rs 13,200 per sq.ft (2024)
• Seethamma Road: Rs 13,200 per sq.ft (2024)
• Seethammal Lane: Rs 13,200 per sq.ft (2024)
• Seethammal Extention 2nd Main Road: Rs 13,200 per sq.ft (2024)
• Seethammal Colony MainRoad: Rs 13,200 per sq.ft (2024)
• Seethammal Colony Extention 3rd Main Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Selvammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, leading to a total of Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selvammal Street?

The Sub Registrar Office that covers Selvammal Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role in the registration process of property transactions in Mylapore Part 1. It serves as the basis for calculating stamp duty and registration fees, ensuring that these charges are appropriately assessed based on the property's value.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall cost of the transaction. Buyers should ensure they are informed about the current guideline value to avoid any unexpected fees during the registration process.

Frequently asked questions

What is the current guideline value of Selvammal Street?

The current guideline value of Selvammal Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Selvammal Street was Rs 7,000 per sq.ft in 2023 and increased by 10% to Rs 7,700 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Mylapore Part 1?

In Mylapore Part 1, guideline values range from Rs 4,400 to Rs 25,300 per sq.ft in 2024, with a median value of Rs 8,800 per sq.ft. Selvammal Street's value is below this median.

How is stamp duty calculated for property in Selvammal Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a plot of 1,000 sq.ft at the current guideline value, the stamp duty would be Rs 5,39,000.

Where is the Sub Registrar Office for Selvammal Street located?

The Sub Registrar Office covering Selvammal Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, under the Chennai Central Joint I SRO.