Guideline Value for Selvi Nagar / Selvi Avenue

Selvi Nagar / Selvi Avenue guideline value

The current guideline value for Selvi Nagar / Selvi Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Selvi Nagar / Selvi Avenue has changed

Over the years, the guideline value for Selvi Nagar / Selvi Avenue has seen significant changes. The earliest recorded value in 2002 was Rs 233 per sq.ft, which increased to Rs 253 per sq.ft in 2003. Following this, the value rose dramatically to Rs 700 per sq.ft in 2007, and then further increased to Rs 2,000 per sq.ft in 2012. However, there was a decrease to Rs 1,340 per sq.ft in 2017. The most recent revision in 2024 shows a substantial increase to Rs 2,200 per sq.ft, marking a 64% rise from the 2017 figure.

In summary, the guideline value has changed from Rs 233 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 844%. It is important to note that the register has no figure for the year 2023 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Selvi Nagar / Selvi Avenue is below this median.

• Selvi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Selvi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Selvi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Semal City Babu Nagar: Rs 2,200 per sq.ft (2024)
• Selvi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Selvi Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Selvi Nagar / Selvi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Selvi Nagar / Selvi Avenue?

The Sub Registrar Office that covers Selvi Nagar / Selvi Avenue is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Kolathur. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately calculate the costs involved in the property transfer.

When registering a property, the guideline value is referenced to assess the appropriate fees. This ensures that all transactions are conducted fairly and transparently, based on the officially recognized values set by the Registration Department.

Frequently asked questions

What is the current guideline value for Selvi Nagar / Selvi Avenue?

The current guideline value for Selvi Nagar / Selvi Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 233 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 844% over the years.

What are the stamp duty and registration fees for property in Selvi Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers this area?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, covers Selvi Nagar / Selvi Avenue.

What is the land classification for Selvi Nagar / Selvi Avenue?

Selvi Nagar / Selvi Avenue is classified as Residential Class IV Type - I according to the local land classification regulations.