Guideline Value for Selvapuram

Selvapuram guideline value

The current guideline value for Selvapuram in Pulikoradu village, under the Tambaram Joint 1 SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - III land classification.

How the guideline value of Selvapuram has changed

The guideline value of Selvapuram has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 200 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 200% increase. The value then rose to Rs 800 per sq.ft in 2023, reflecting a 33% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, which is a 10% increase from 2023.

There are no figures available for the years 2002, 2003, and 2017 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Pulikoradu

In Pulikoradu, there are 62 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 880 per sq.ft, placing Selvapuram's 2024 figure at this median level.

• School Street: Rs 880 per sq.ft (2024)
• Service Road(Maduravayul ByPass): Rs 1,320 per sq.ft (2024)
• Sapphire: Rs 3,850 per sq.ft (2024)
• Sri Bhuvaneshwar Nagar: Rs 880 per sq.ft (2024)
• Sri Bhuvaneshwar Nagar Extn.: Rs 1,100 per sq.ft (2024)
• Ramesh Nagar Main Road: Rs 1,320 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. 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 more details.

Which Sub Registrar Office covers Selvapuram?

The Sub Registrar Office that covers Selvapuram is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor when registering property transactions in Pulikoradu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value is used to calculate the taxes due at registration. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the correct fees are paid during the transaction.

Frequently asked questions

What is the current guideline value of Selvapuram?

The current guideline value of Selvapuram is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What are the other streets in Pulikoradu with their guideline values?

Other streets in Pulikoradu include School Street and Sri Bhuvaneshwar Nagar, both valued at Rs 880 per sq.ft, while Service Road (Maduravayul ByPass) is valued at Rs 1,320 per sq.ft.

What is the stamp duty rate applicable in Selvapuram?

The stamp duty rate applicable in Selvapuram is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Selvapuram?

The Sub Registrar Office for Selvapuram is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.