Guideline Value for Selvanathan street

Selvanathan street guideline value

The current guideline value of Selvanathan street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Selvanathan street has changed

The guideline value for Selvanathan street has undergone several revisions over the years. In 2002, the value was Rs 840 per sq.ft, which increased to Rs 926 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase of 62% to reach Rs 1,500 per sq.ft in 2007. Following this, the value jumped by 333% to Rs 6,500 per sq.ft in 2012, but then decreased by 33% to Rs 4,355 per sq.ft in 2017. The 2023 revision set the value at Rs 6,500 per sq.ft, which then rose by 9% to reach the current value of Rs 7,100 per sq.ft in 2024.

There are no figures available for the revisions of this street in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by 745%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the guideline value for Selvanathan street.

• SchoolRoad: Rs 3,900 per sq.ft (2024)
• Scan IceLIne: Rs 6,300 per sq.ft (2024)
• Savuri Muthu Lane: Rs 6,300 per sq.ft (2024)
• Sathya Vani Muthu Nagar (huts): Rs 2,800 per sq.ft (2024)
• Sastri Nagar (All Streets): Rs 3,400 per sq.ft (2024)
• Sivan Koil street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Selvanathan street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selvanathan street?

The Sub Registrar Office that covers Selvanathan street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which properties must be registered. When buying or selling property in Egmore, the guideline value is used to calculate the stamp duty and registration fees that are payable at the time of registration.

It is important for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property transactions. This ensures that all parties are informed and can plan their finances accordingly.

Frequently asked questions

What is the current guideline value of Selvanathan street?

The current guideline value of Selvanathan street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 840 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 745% over the years.

What is the land classification for Selvanathan street?

Selvanathan street is classified as Residential Class II Type - I under the Periamet SRO.

Where can I find the registration office for Selvanathan street?

The registration office for Selvanathan street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Selvanathan street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 4,97,000.