Guideline Value for Selvarangarasa Street

Selvarangarasa Street guideline value

The current guideline value of Selvarangarasa Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village and falls under the Adayar SRO with a land classification of Residential Class V Type - III.

How the guideline value of Selvarangarasa Street has changed

The guideline value for Selvarangarasa Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft. The latest revision in 2024 has raised the guideline value to Rs 2,800 per sq.ft.

Looking at the changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value rose by 49%. The most recent increase from 2023 to 2024 is 12%. Overall, the guideline value has increased by 12% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 15,400 per sq.ft, with a median value of Rs 5,500 per sq.ft. Selvarangarasa Street's 2024 figure is below this median.

• Sardar Patel Road: Rs 15,400 per sq.ft (2024)
• Sri Nagar Colony Cross Road: Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony East Mada Veedhi: Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony North Avenue: Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony North Mada Veedhi: Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony South Avenue: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Selvarangarasa Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selvarangarasa Street?

Selvarangarasa Street is covered by 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 Venkatapuram

When buying or selling property in Venkatapuram, the guideline value is a crucial factor in determining the stamp duty and registration fees. It serves as a benchmark for the value of the property and ensures that the fees are calculated accurately based on the higher of the guideline value or the sale price.

During the registration process, the guideline value helps in assessing the market value of the property and aids in a transparent transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Selvarangarasa Street?

The current guideline value of Selvarangarasa Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the 2012 revision at Rs 2,500 per sq.ft, dropping to Rs 1,675 per sq.ft in 2017, then rising to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,800 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on Selvarangarasa Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles the registration for Selvarangarasa Street?

The Adayar Sub Registrar Office handles the registration for Selvarangarasa Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Selvarangarasa Street?

Selvarangarasa Street is classified as Residential Class V Type - III, indicating its designation for residential use within the locality.