Guideline Value for Selvaperumal 2nd Street

Selvaperumal 2nd Street guideline value

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

How the guideline value of Selvaperumal 2nd Street has changed

In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. This value decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 saw a significant increase to Rs 2,200 per sq.ft, reflecting a rise of 64% from the 2017 figure. The overall change from the 2012 to the 2024 revision is an increase of 10%.

The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing the 2024 figure for Selvaperumal 2nd Street below this median.

• Selvaperumal 1st 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 2nd Street

For a 1,000 sq.ft plot 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, resulting in a total of Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selvaperumal 2nd Street?

The Sub Registrar Office that covers Selvaperumal 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property in Kodungaiyur, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for both buyers and sellers to be aware of the guideline value, as it impacts the overall cost of the transaction. Ensuring that the sale price meets or exceeds the guideline value is necessary for a smooth registration process.

Frequently asked questions

What is the current guideline value of Selvaperumal 2nd Street?

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

How has the guideline value changed over the years?

The guideline value changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What is the land classification of Selvaperumal 2nd Street?

Selvaperumal 2nd Street is classified as Residential Class II Type - I according to the guideline value register.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Selvaperumal 2nd Street is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2%.

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 Kodungaiyur area.