Guideline Value for Selvaraj Street (Krishnamoorthy Nagar)

Selvaraj Street (Krishnamoorthy Nagar) guideline value

The current guideline value of Selvaraj Street (Krishnamoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Selvaraj Street (Krishnamoorthy Nagar) has changed

In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. This figure increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% increase over the six-year period. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 61%. The register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is the same as the current value for Selvaraj Street.

• Selvaraj Street: Rs 2,700 per sq.ft (2024)
• Selvaperumal Street: Rs 2,200 per sq.ft (2024)
• Selva Perumal Koil Street: Rs 2,700 per sq.ft (2024)
• Selvaperumal 2nd Street: Rs 2,200 per sq.ft (2024)
• Selvaperumal 1st Street: Rs 2,200 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Selvaraj Street (Krishnamoorthy Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. 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 Selvaraj Street (Krishnamoorthy Nagar)?

The Sub Registrar Office that covers Selvaraj Street (Krishnamoorthy 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 Kodungaiyur

The guideline value is a critical component during the registration of property transactions in Kodungaiyur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, it is essential to consider the guideline value, as it can significantly impact the overall transaction costs. Buyers and sellers should be aware of the current rates to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Selvaraj Street?

The current guideline value of Selvaraj Street (Krishnamoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft in 2024, reflecting a total increase of 61% over this period.

What is the land classification for Selvaraj Street?

Selvaraj Street (Krishnamoorthy Nagar) is classified as Residential Class I Type - I.

Where is the Madhavaram Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Selvaraj Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 27,00,000 would incur a stamp duty of Rs 1,89,000.