Guideline Value for Selvaraj Street

Selvaraj Street guideline value

The current guideline value of Selvaraj Street in Pammal village, under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Selvaraj Street has changed

The guideline value for Selvaraj Street has seen significant changes over the years. In 2002, the value was Rs 133 per sq.ft, which increased to Rs 260 per sq.ft in 2003, marking a change of +95%. The value continued to rise, reaching Rs 360 per sq.ft in 2007, a +38% increase from the previous revision. By 2017, the guideline value had jumped to Rs 1,206 per sq.ft, reflecting a substantial increase of +235%. The most recent revisions show the value at Rs 1,800 per sq.ft in 2023, followed by the current figure of Rs 1,980 per sq.ft in 2024, which is a +10% increase.

It is noteworthy that there is no figure available for Selvaraj Street in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by +1389%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. Selvaraj Street's current guideline value is below this median.

• Selvaraj Street, Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Sellappa Street / Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)
• Sellappan Street: Rs 1,760 per sq.ft (2024)
• Sellammal Street / Meenakshi Nagar: Rs 1,980 per sq.ft (2024)
• Sengtuavan Street / Muthamazhi Nagar: Rs 2,475 per sq.ft (2024)
• Sengtuavan Street /Thiruvallur Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Selvaraj Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total cost for these charges Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selvaraj Street?

The Sub Registrar Office covering Selvaraj Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the authorities will assess the property based on the guideline value or the sale price, whichever is higher. This ensures that the correct fees are collected, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Selvaraj Street?

The current guideline value of Selvaraj Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 133 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting a total increase of +1389% over the years.

What are the stamp duty rates for properties on Selvaraj Street?

The stamp duty for properties on Selvaraj Street is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

Which office handles property registrations for Selvaraj Street?

The Pammal Sub Registrar Office handles property registrations for Selvaraj Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Are there other streets in Pammal with similar guideline values?

Yes, there are other streets in Pammal with similar guideline values. For instance, Selvaraj Street in Periyar Nagar and Sellappa Street both have a guideline value of Rs 1,980 per sq.ft in 2024.