Guideline Value for Selvi Nagar 3rd Street

Selvi Nagar 3rd Street guideline value

The current guideline value of Selvi Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street 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 3rd Street has changed

In the 2007 revision, the guideline value was set at Rs 700 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 2,000 per sq.ft, marking a change of 186%. The guideline value remained unchanged at Rs 2,000 per sq.ft during the 2023 revision. The most recent 2024 revision has increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2017 in the register for Selvi Nagar 3rd Street. Overall, from the 2007 revision to the 2024 revision, there has been an increase of 214% in the guideline value.

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. Selvi Nagar 3rd Street's 2024 figure is below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Selvi Nagar 3rd Street?

Selvi Nagar 3rd Street falls under the jurisdiction of 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 is a crucial factor in property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Selvi Nagar 3rd Street?

The current guideline value of Selvi Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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

What are the registration fees for a property in Selvi Nagar 3rd Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Selvi Nagar 3rd Street?

The Sembiam Sub Registrar Office at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Selvi Nagar 3rd Street.

What is the land classification of Selvi Nagar 3rd Street?

Selvi Nagar 3rd Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.