Guideline Value for Sri Selva Vignesh Nagar

Sri Selva Vignesh Nagar guideline value

The current guideline value of Sri Selva Vignesh Nagar, located in Siruniyam village under the Redhills SRO, is Rs 440 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

How the guideline value of Sri Selva Vignesh Nagar has changed

Beginning with the 2003 revision, the guideline value was Rs 11 per sq.ft. This figure saw a significant increase to Rs 300 per sq.ft in 2007, marking a change of +2,627%. In 2012, the value remained at Rs 400 per sq.ft, showing an increase of +33% from the previous revision. The 2017 revision saw a decrease to Rs 268 per sq.ft, a change of -33%. The guideline value then rose to Rs 400 per sq.ft in 2023, reflecting a +49% increase. Finally, the 2024 revision set the value at Rs 440 per sq.ft, an increase of +10% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by +3,900%. The register has no figure for the year 2002 for this street.

Guideline values in Siruniyam

In Siruniyam, there are 32 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 1,500 per sq.ft. The median value is Rs 440 per sq.ft, which aligns with the current guideline value of Sri Selva Vignesh Nagar.

• Sri Selva Vignesh Nagar East Avenue: Rs 400 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

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Selva Vignesh Nagar?

The Sub Registrar Office that covers Sri Selva Vignesh Nagar 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 details.

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

The guideline value is an essential factor when registering property transactions in Siruniyam. It serves as a base for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately according to the prevailing rates.

When buying or selling property, the guideline value helps to establish a fair price for the transaction. It is crucial for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Sri Selva Vignesh Nagar?

The current guideline value of Sri Selva Vignesh Nagar is Rs 440 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 11 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, which is a total increase of +3,900% over the years.

What are the stamp duty and registration fees for property in Sri Selva Vignesh Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 39,600.

Which office is responsible for property registration in Sri Selva Vignesh Nagar?

The Redhills Sub Registrar Office is responsible for property registration in Sri Selva Vignesh Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the property is registered at a value that reflects current market conditions and legal requirements.