Guideline Value for Sri Selva Vigneshwar Nagar

Sri Selva Vigneshwar Nagar guideline value

The current guideline value of Sri Selva Vigneshwar Nagar is Rs 385 per sq.ft, effective from 1 July 2024. This locality is situated in Perungavur village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Selva Vigneshwar Nagar has changed

The guideline value for Sri Selva Vigneshwar Nagar has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 29 per sq.ft. This figure increased significantly to Rs 300 per sq.ft in 2007, marking a change of +934%. In 2012, the value was Rs 350 per sq.ft, reflecting a decrease of -33% from the previous revision. The 2017 revision set the value at Rs 234 per sq.ft, which was a +50% increase from 2012. The 2023 revision raised the value to Rs 350 per sq.ft, and the most recent 2024 revision has established it at Rs 385 per sq.ft, an increase of +10% from the previous year.

It is important to note that the register has no figure for the year 2002 for this street. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +1228%.

Guideline values in Perungavur

In Perungavur, there are 79 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft, with a median value of Rs 275 per sq.ft. The guideline value of Sri Selva Vigneshwar Nagar is above this median.

• Sri Sakthi Nagar: Rs 385 per sq.ft (2024)
• Sri Sainagar @ Gomathi Amman Nagar Phase - II: Rs 275 per sq.ft (2024)
• Sri Sai Nagar: Rs 275 per sq.ft (2024)
• Sri Vijayalakshmi Nagar: Rs 220 per sq.ft (2024)
• Sri Palathamman Garden: Rs 220 per sq.ft (2024)
• Sri Lakshmi Nagar Annex: Rs 385 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Selva Vigneshwar Nagar

For a 1,000 sq.ft plot at the current rate of Rs 385 per sq.ft, the guideline value would be Rs 3,85,000. The stamp duty at 7% would be Rs 26,950, and the registration fee at 2% would be Rs 7,700, totaling Rs 34,650. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Selva Vigneshwar Nagar?

The Sub Registrar Office that covers Sri Selva Vigneshwar 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 information.

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

The guideline value plays a crucial role when buying or selling property in Perungavur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is often a reference point for property transactions in the area.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

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

The current guideline value of Sri Selva Vigneshwar Nagar is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 29 per sq.ft in 2003 to Rs 385 per sq.ft in 2024, showing a significant increase of +1228% overall.

What are the stamp duty rates for property in Sri Selva Vigneshwar Nagar?

The stamp duty rate for property transactions in Sri Selva Vigneshwar Nagar is 7%, based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Sri Selva Vigneshwar Nagar?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Sri Selva Vigneshwar Nagar?

Sri Selva Vigneshwar Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.