Guideline Value for Selvaperumal 1st Street

Selvaperumal 1st Street guideline value

The current guideline value of Selvaperumal 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Selvaperumal 1st Street has changed

The guideline value for Selvaperumal 1st Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 2,200 per sq.ft, marking a 64% rise from the 2017 figure and an overall increase of 10% from the 2012 value.

It is important to note that there are no recorded figures for this street in the revisions for the years 2002, 2003, 2007, and 2023. The fluctuations in guideline value reflect changes in the local real estate landscape.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft as per the 2024 revision. The median guideline value for these streets is Rs 2,700 per sq.ft, placing the 2024 figure for Selvaperumal 1st Street below this median.

• Selvaperumal 2nd Street: Rs 2,200 per sq.ft (2024)
• Selva Perumal Koil Street: Rs 2,700 per sq.ft (2024)
• Selvaperumal Street: Rs 2,200 per sq.ft (2024)
• Selvaraj Street: Rs 2,700 per sq.ft (2024)
• Selvaraj Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Selvaperumal 1st Street

For a property measuring 1,000 sq.ft at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these charges to Rs 1,98,000. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Selvaperumal 1st Street?

The Sub Registrar Office that covers Selvaperumal 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations associated with the transaction. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value for Selvaperumal 1st Street?

The current guideline value for Selvaperumal 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2012 to 2024?

From 2012 to 2024, the guideline value increased by 10%, moving from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024.

What is the guideline value for other streets in Kodungaiyur?

Other streets in Kodungaiyur have varying guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft.

How is stamp duty calculated for properties in Selvaperumal 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area, including Selvaperumal 1st Street.