Guideline Value for Sri Selva Vinayagar Nagar / Vinayagar Nagar

Sri Selva Vinayagar Nagar / Vinayagar Nagar guideline value

The current guideline value for Sri Selva Vinayagar Nagar / Vinayagar Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kodungaiyur village and falls under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Selva Vinayagar Nagar / Vinayagar Nagar has changed

The guideline value for Sri Selva Vinayagar Nagar / Vinayagar Nagar has seen several revisions over the years. In 2017, the guideline value was Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, marking an 8% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 61%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the changes observed are solely between the revisions from 2017, 2023, and 2024.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the 2024 figure for Sri Selva Vinayagar Nagar / Vinayagar Nagar.

• Sri Theagaraja Nagar: Rs 2,700 per sq.ft (2024)
• Sri Theagarayar Street (Venkateswara Nagar): Rs 2,700 per sq.ft (2024)
• Sri Ram Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Sri Ram Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Sri Ram Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sri Ram nagar 3rd Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Selva Vinayagar Nagar / Vinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Selva Vinayagar Nagar / Vinayagar Nagar?

The Sub Registrar Office that covers Sri Selva Vinayagar Nagar / Vinayagar Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process.

When a property is registered, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value for Sri Selva Vinayagar Nagar / Vinayagar Nagar?

The current guideline value for Sri Selva Vinayagar Nagar / Vinayagar Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft in 2024, which is an overall increase of 61%.

What is the land classification for this area?

Sri Selva Vinayagar Nagar / Vinayagar Nagar is classified as Residential Class I Type - I.

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

The stamp duty is charged at 7% and the registration fee at 2% of the higher value between the guideline value and the sale price. For a 1,000 sq.ft plot, the total fees would be Rs 2,43,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.