Guideline Value for Selvaraj Street

Selvaraj Street guideline value

The current guideline value of Selvaraj Street in Kodungaiyur village, under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class I Type - I.

How the guideline value of Selvaraj Street has changed

Over the years, the guideline value of Selvaraj Street has seen significant revisions. The 2017 revision recorded a value of Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in 2023, marking a 49% rise. The most recent 2024 revision shows an 8% increase from the 2023 figure, bringing the current value to Rs 2,700 per sq.ft. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Overall, from 2017 to 2024, the guideline value has increased by 61%. This reflects the changes in the valuation over the years, with the most notable rise occurring between 2017 and 2023, followed by a steady increase into 2024.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for the village is Rs 2,700 per sq.ft, which is equal to the current guideline value of Selvaraj Street.

• Selvaraj Street (Krishnamoorthy Nagar): 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

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, calculated at 7%, would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. 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 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 an essential factor in the registration process of property transactions in Kodungaiyur. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is important for buyers and sellers to be aware of the current guideline value, as it directly affects the financial obligations during the registration of property. Understanding these values can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Selvaraj Street?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 61%.

What is the land classification for Selvaraj Street?

Selvaraj Street is classified as Residential Class I Type - I according to the guideline value register.

Where can I find the Madhavaram Sub Registrar Office?

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

How is stamp duty calculated on property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value, the stamp duty for a 1,000 sq.ft plot would be Rs 1,89,000.