Guideline Value for Selvaraj Nagar

Selvaraj Nagar guideline value

The current guideline value for Selvaraj Nagar, located in Jampuli village under the Madhavaram SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of Selvaraj Nagar has changed

Looking at the historical revisions, the guideline value for Selvaraj Nagar has seen significant changes over the years. In the 2012 revision, the value was Rs 1,600 per sq.ft, which then decreased to Rs 1,072 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased by 49% to reach Rs 1,600 per sq.ft. The most recent revision in 2024 saw another increase of 6%, bringing the current value to Rs 1,700 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Jampuli

In Jampuli village, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median value of Rs 2,450 per sq.ft. The guideline value for Selvaraj Nagar is below this median.

• Sasthiri Nagar Extension: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 5th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Selvaraj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total charges to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selvaraj Nagar?

The Sub Registrar Office that covers Selvaraj Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Jampuli. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that all transactions are recorded at a fair value as determined by the government.

When you proceed with a property transaction, the guideline value is used to assess the applicable charges. This means that whether you are buying or selling, the guideline value will influence the overall cost associated with the transaction, making it essential for both buyers and sellers to be aware of the current rates.

Frequently asked questions

What is the current guideline value of Selvaraj Nagar?

The current guideline value for Selvaraj Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Selvaraj Nagar?

Selvaraj Nagar is classified as Residential Class IV Type - I, indicating its zoning for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Sub Registrar Office for Selvaraj Nagar located?

The Madhavaram Sub Registrar Office, which covers Selvaraj Nagar, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.