Guideline Value for Selvapuram Nagar Ext

Selvapuram Nagar Ext guideline value

The current guideline value of Selvapuram Nagar Ext is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Sokandi village and falls under the Sunguvarchattram SRO. The land classification for this street is Mixed Special Type - I.

How the guideline value of Selvapuram Nagar Ext has changed

Over the years, the guideline value for Selvapuram Nagar Ext has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision saw a significant increase to Rs 402 per sq.ft, marking a decrease of 33% from the previous revision. In the 2023 revision, the value was again set at Rs 600 per sq.ft, and this value has remained consistent through to the 2024 revision, which also records Rs 600 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From the 2017 to 2023 revision, there was an increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has remained unchanged, showing a 0% change. This consistency reflects the stability of the guideline value in recent years.

Guideline values in Sokandi

In Sokandi village, there are 35 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 1,000 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Selvapuram Nagar Ext above this median with its current guideline value of Rs 600 per sq.ft.

• Selvapuram: Rs 300 per sq.ft (2024)
• Selvapuram Part-I: Rs 300 per sq.ft (2024)
• SelvaPuram Part-II: Rs 300 per sq.ft (2024)
• Sebastian Avenue: Rs 450 per sq.ft (2024)
• Sharma Nagar: Rs 250 per sq.ft (2024)
• Sagaya Annai Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Selvapuram Nagar Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty is charged at 7%, which totals Rs 42,000, and the registration fee is charged at 2%, amounting to Rs 12,000. Together, the total cost for stamp duty and registration fee would be Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Selvapuram Nagar Ext?

The Selvapuram Nagar Ext area is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sokandi. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government collects the appropriate stamp duty and registration fees based on the guideline value.

When a buyer approaches the registration office, the guideline value is assessed to calculate the applicable fees. The fees are calculated on either the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately and transparently.

Frequently asked questions

What is the current guideline value of Selvapuram Nagar Ext?

The current guideline value of Selvapuram Nagar Ext is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft from the 2012 revision to the 2024 revision. There was a decrease to Rs 402 per sq.ft in 2017, followed by an increase back to Rs 600 per sq.ft in 2023.

What is the land classification for Selvapuram Nagar Ext?

The land classification for Selvapuram Nagar Ext is Mixed Special Type - I, indicating its diverse usage potential.

Where is the Sub Registrar Office for Selvapuram Nagar Ext located?

The Sub Registrar Office for Selvapuram Nagar Ext is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Selvapuram Nagar Ext?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 600 per sq.ft, the total guideline value is Rs 6,00,000, leading to a stamp duty of Rs 42,000 at 7%.