Guideline Value for Selvaranga Raja Street

Selvaranga Raja Street guideline value

The current guideline value of Selvaranga Raja Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Adayar village under the Adayar SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Selvaranga Raja Street has changed

Over the years, the guideline value of Selvaranga Raja Street has seen several revisions. The earliest recorded revision was in 2007, with a value of Rs 1,750 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, but then decreased to Rs 3,015 per sq.ft in 2017. The value rose again to Rs 4,500 per sq.ft in 2023, and most recently, it has reached Rs 5,000 per sq.ft in 2024. The register has no figures for the years 2002 and 2003.

In terms of percentage changes, from 2007 to 2012, there was an increase of 157%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was an increase of 11% from 2023 to 2024. Overall, the guideline value has increased by 186% from 2007 to 2024.

Guideline values in Adayar

In Adayar, there are 92 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 6,100 per sq.ft. Selvaranga Raja Street's current guideline value is below this median.

• Sardar Patel Road: Rs 15,400 per sq.ft (2024)
• Sanjeevarayan Pettai: Rs 10,500 per sq.ft (2024)
• Slum Clearance Board Residents: Rs 5,500 per sq.ft (2024)
• River Side Road: Rs 9,900 per sq.ft (2024)
• Ranjith Road: Rs 11,000 per sq.ft (2024)
• Ranjith Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Selvaranga Raja Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, making the total cost for these fees Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selvaranga Raja Street?

The Sub Registrar Office that covers Selvaranga Raja Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Adayar. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the property is not undervalued during the transaction.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the costs involved in the transaction, based on the established guideline values for the area.

Frequently asked questions

What is the current guideline value of Selvaranga Raja Street?

The current guideline value of Selvaranga Raja Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,750 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, marking an overall increase of 186% over this period.

What are the other streets in Adayar with their guideline values?

Other streets in Adayar have varying guideline values, with Sardar Patel Road at Rs 15,400 per sq.ft and Ranjith Road at Rs 11,000 per sq.ft, among others.

How is stamp duty calculated for properties in Selvaranga Raja Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 50,00,000 would incur a stamp duty of Rs 3,50,000.

Where can I find the Sub Registrar Office for Selvaranga Raja Street?

The Sub Registrar Office for Selvaranga Raja Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.