Guideline Value for Selvavinayagar Koil Street Block 85(J.PET)

Selvavinayagar Koil Street Block 85(J.PET) guideline value

The current guideline value of Selvavinayagar Koil Street Block 85(J.PET) is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Selvavinayagar Koil Street Block 85(J.PET) has changed

The guideline value for Selvavinayagar Koil Street Block 85(J.PET) has seen several revisions over the years. In 2012, the guideline value was Rs 3,750 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 2,512 per sq.ft. Following this, the value increased significantly to Rs 3,750 per sq.ft in 2023, and then rose again to the current rate of Rs 4,100 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 9%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Selvavinayagar Koil Street Block 85(J.PET) below this median.

• Sembada Street: Rs 2,700 per sq.ft (2024)
• Sekizhar Street: Rs 3,300 per sq.ft (2024)
• Sekizhar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sekizhar 2nd Street: Rs 3,300 per sq.ft (2024)
• Seethalai Sathanar Street: Rs 3,300 per sq.ft (2024)
• Seethalai Sathanar Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Selvavinayagar Koil Street Block 85(J.PET)

For a 1,000 sq.ft plot at the current rate of Rs 4,100 per sq.ft, the guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, while the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Selvavinayagar Koil Street Block 85(J.PET)?

The Sub Registrar Office that covers Selvavinayagar Koil Street Block 85(J.PET) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in the registration process.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Selvavinayagar Koil Street Block 85(J.PET)?

The current guideline value of Selvavinayagar Koil Street Block 85(J.PET) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,750 per sq.ft in 2012 to Rs 2,512 per sq.ft in 2017, then back to Rs 3,750 per sq.ft in 2023, and finally to Rs 4,100 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Selvavinayagar Koil Street Block 85(J.PET) is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Selvavinayagar Koil Street Block 85(J.PET) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000 at a rate of 7%.