Guideline Value for Selvi Nagar 2nd Street

Selvi Nagar 2nd Street guideline value

The current guideline value of Selvi Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Selvi Nagar 2nd Street has changed

The guideline value for Selvi Nagar 2nd Street has undergone several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 186% rise. However, the value saw a decrease to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for Selvi Nagar 2nd Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 214%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, indicating that Selvi Nagar 2nd Street's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Selvi Nagar 2nd Street

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, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total cost of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Selvi Nagar 2nd Street?

The Sub Registrar Office covering Selvi Nagar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property must be registered. When buying or selling property in Kolathur, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during property transactions. This value helps in establishing a fair basis for the valuation of the property being transacted.

Frequently asked questions

What is the current guideline value of Selvi Nagar 2nd Street?

The current guideline value of Selvi Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 214%.

What is the land classification for Selvi Nagar 2nd Street?

The land classification for Selvi Nagar 2nd Street is Residential Class IV Type - I.

Which office handles property registration in this area?

The Sembiam Sub Registrar Office handles property registration for Selvi Nagar 2nd Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Selvi Nagar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.