Guideline Value for Selvapuram Part-I

Selvapuram Part-I guideline value

The current guideline value of Selvapuram Part-I is Rs 300 per sq.ft. This area is located in Sokandi village, under the jurisdiction of the Sunguvarchattram SRO. The land classification for this area is Industries Type - I.

How the guideline value of Selvapuram Part-I has changed

Over the years, the guideline value for Selvapuram Part-I has seen several revisions. The earliest recorded revision is from 2012, which set the value at Rs 300 per sq.ft. This remained unchanged until the next revision in 2017, which saw a decrease to Rs 201 per sq.ft. The value then increased significantly to Rs 300 per sq.ft in 2023, and it has remained the same in the latest revision for 2024, which also stands at Rs 300 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. However, between 2012 and 2017, the guideline value decreased by 33%. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 300 per sq.ft.

Guideline values in Sokandi

In Sokandi village, there are 35 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 181 to Rs 1,000 per sq.ft, with the median value being Rs 300 per sq.ft. The guideline value of Selvapuram Part-I aligns with this median.

• SelvaPuram Part-II: Rs 300 per sq.ft (2024)
• Selvapuram Nagar Ext: Rs 600 per sq.ft (2024)
• Selvapuram: 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 Part-I

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, while the registration fee at 2% would be Rs 6,000. Together, the total fees would be Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selvapuram Part-I?

The Selvapuram Part-I area falls under the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sokandi. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives its due revenue from property sales.

When you buy or sell property, the registration office will use the guideline value to determine the applicable fees. It is essential to be aware of the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Selvapuram Part-I?

The current guideline value of Selvapuram Part-I is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2012, with a decrease to Rs 201 per sq.ft in 2017, followed by an increase back to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for Selvapuram Part-I?

The land classification for Selvapuram Part-I is Industries Type - I, indicating its suitability for industrial use.

Where can I find the Sub Registrar Office for Selvapuram Part-I?

The Sub Registrar Office covering Selvapuram Part-I is the Sunguvarchattram SRO, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at a rate of 7%.