Guideline Value for Sri Selva Vignesh Nagar East Avenue

Sri Selva Vignesh Nagar East Avenue guideline value

The current guideline value of Sri Selva Vignesh Nagar East Avenue is Rs 400 per sq.ft, effective from 1 July 2024. This property is located in Siruniyam village under the Redhills SRO and is classified as Residential Class I Type - II.

How the guideline value of Sri Selva Vignesh Nagar East Avenue has changed

The guideline value for Sri Selva Vignesh Nagar East Avenue has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 11 per sq.ft. This figure increased significantly to Rs 100 per sq.ft in 2007, marking a change of +809%. In 2012, the value rose to Rs 400 per sq.ft, representing a substantial increase of +300%. However, in 2017, the value dropped to Rs 268 per sq.ft, a decrease of -33%. The value remained at Rs 400 per sq.ft in both 2023 and 2024, indicating no change between these two revisions.

Overall, from 2003 to 2024, the guideline value has increased by +3536%, reaching the current figure of Rs 400 per sq.ft. It is important to note that there is no recorded figure for the year 2002 for this street.

Guideline values in Siruniyam

In Siruniyam village, there are 32 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft. The median guideline value in this area is Rs 440 per sq.ft, placing Sri Selva Vignesh Nagar East Avenue's value below this median.

• Sri Selva Vignesh Nagar: Rs 440 per sq.ft (2024)
• Sri Selva Vignesh Nagar Phase-II: Rs 1,500 per sq.ft (2024)
• Sri Selva Vignesh Outer Ring Road Avenue: Rs 440 per sq.ft (2024)
• Sri Vadivudaiamman Nagar: Rs 825 per sq.ft (2024)
• Sri Kanniamman Nagar: Rs 960 per sq.ft (2024)
• Sri Gangadevi Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Selva Vignesh Nagar East Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, leading to a total of Rs 36,000. Please 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 details.

Which Sub Registrar Office covers Sri Selva Vignesh Nagar East Avenue?

The Sub Registrar Office that covers Sri Selva Vignesh Nagar East Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Siruniyam. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is essential for both buyers and sellers. This value helps in maintaining transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value for Sri Selva Vignesh Nagar East Avenue?

The current guideline value for Sri Selva Vignesh Nagar East Avenue is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 11 per sq.ft in 2003 to Rs 400 per sq.ft in 2024, reflecting an overall increase of +3536% over the years.

What is the median guideline value in Siruniyam?

The median guideline value in Siruniyam is Rs 440 per sq.ft, with Sri Selva Vignesh Nagar East Avenue's value being below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Which office handles property registrations for Sri Selva Vignesh Nagar East Avenue?

The Redhills Sub Registrar Office handles property registrations for Sri Selva Vignesh Nagar East Avenue, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.