Guideline Value for Selvaraj Nagar Extn-V

Selvaraj Nagar Extn-V guideline value

The current guideline value of Selvaraj Nagar Extn-V is Rs 1,500 per sq.ft, as per the 2023 revision. This area falls under Urapakkam village and is classified as Residential Special Type - II. The relevant Sub Registrar Office for this locality is the Gooduvancheri SRO.

How the guideline value of Selvaraj Nagar Extn-V has changed

Over the years, the guideline value of Selvaraj Nagar Extn-V has undergone several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a substantial rise of 150%. However, in the 2017 revision, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The most recent revision in 2023 reinstated the guideline value at Rs 1,500 per sq.ft, representing an increase of 49% from the previous revision.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 150%. It is important to note that the register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Urapakkam

Currently, there are no specific village figures available for Urapakkam. However, Selvaraj Nagar Extn-V is situated within this locality, which is covered by the Gooduvancheri SRO.

Stamp duty and registration fee for property in Selvaraj Nagar Extn-V

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The applicable stamp duty at 7% would amount to Rs 1,05,000, while the registration fee at 2% would be Rs 30,000. Therefore, the total cost for stamp duty and registration would be Rs 1,35,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selvaraj Nagar Extn-V?

The Sub Registrar Office that covers Selvaraj Nagar Extn-V is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Urapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value will influence the stamp duty and registration fees applicable during the transaction.

When a property is sold, the sale price and the guideline value are assessed, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Selvaraj Nagar Extn-V?

The current guideline value of Selvaraj Nagar Extn-V is Rs 1,500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and finally returned to Rs 1,500 per sq.ft in 2023.

What is the land classification for Selvaraj Nagar Extn-V?

Selvaraj Nagar Extn-V is classified as Residential Special Type - II. This classification influences the guideline value and property usage in the area.

What are the stamp duty and registration fees for property in Selvaraj Nagar Extn-V?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 at 7%, and the registration fee would be Rs 30,000 at 2%, totaling Rs 1,35,000.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.