Guideline Value for Selvapuram

Selvapuram guideline value

The current guideline value of Selvapuram, located in Sokandi village under the Sunguvarchattram SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area is classified as Industries Type - I.

How the guideline value of Selvapuram has changed

Looking at the historical revisions, the guideline value for Selvapuram has seen several changes. In 2007, the value was Rs 60 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012. However, it then decreased to Rs 201 per sq.ft in 2017. The 2023 revision maintained the value at Rs 300 per sq.ft, and the upcoming 2024 revision will also see it remain at Rs 300 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2007 to 2012 marked a substantial increase of 400%, while the overall change from 2007 to 2024 reflects a consistent rise of 400% as well. This stability in recent revisions indicates a steady guideline value for the area.

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, with a median value of Rs 300 per sq.ft. The guideline value of Selvapuram aligns with this median. Below are the guideline values for other streets in Sokandi:

• Selvapuram Nagar Ext: Rs 600 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

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

Which Sub Registrar Office covers Selvapuram?

The Selvapuram area falls under the jurisdiction of 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 a reference point for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

When a property is sold, the guideline value or the sale price is used to determine the applicable duties, whichever is higher. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value for Selvapuram?

The current guideline value for Selvapuram is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has experienced various changes, with the most recent revisions maintaining the value at Rs 300 per sq.ft since 2023.

What is the classification of land in Selvapuram?

Selvapuram is classified as Industries Type - I, which may influence its usage and development potential.

What are the stamp duty and registration fees for property in Selvapuram?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Which office handles property registrations in Selvapuram?

The Sunguvarchattram Sub Registrar Office handles property registrations for Selvapuram, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram.