Guideline Value for Selvaraj Avenue

Selvaraj Avenue guideline value

The current guideline value of Selvaraj Avenue is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO, classified as Residential Class II Type - I.

How the guideline value of Selvaraj Avenue has changed

Over the years, the guideline value of Selvaraj Avenue has seen significant changes. The earliest recorded figure is from 2003, where the value was Rs 324 per sq.ft. This increased dramatically to Rs 1,500 per sq.ft in 2007, marking a rise of 363%. The value then fluctuated, reaching Rs 3,500 per sq.ft in 2012, a decrease of 33% from the previous revision. By 2017, it had dropped to Rs 2,345 per sq.ft, before climbing back to Rs 3,500 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 sees the guideline value at Rs 3,900 per sq.ft, an increase of 11% from the previous year.

It is important to note that there is no recorded guideline value for Selvaraj Avenue in 2002. Overall, from 2003 to 2024, the guideline value has increased by 1104%, showcasing the changes over the years.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with the 2024 guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median for these streets is Rs 3,900 per sq.ft, which is equal to the guideline value of Selvaraj Avenue.

• Sekar Nagar: Rs 1,700 per sq.ft (2024)
• Senthamarai Kannan Salai: Rs 3,900 per sq.ft (2024)
• Sathya Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Sathya Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Sathya Nagar 3rd street: Rs 2,200 per sq.ft (2024)
• Sathya Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Selvaraj Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that 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 Selvaraj Avenue?

The Sub Registrar Office that covers Selvaraj Avenue is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the transaction is recorded accurately in the official registers.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the property transfer process. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Selvaraj Avenue?

The current guideline value of Selvaraj Avenue is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 324 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1104% over the years.

What is the land classification of Selvaraj Avenue?

Selvaraj Avenue is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 39,00,000, the stamp duty is Rs 2,73,000 and the registration fee is Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for Selvaraj Avenue located?

The Adayar Sub Registrar Office, which covers Selvaraj Avenue, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.