Guideline Value for Thamizh Selvi Nagar

Thamizh Selvi Nagar guideline value

The current guideline value of Thamizh Selvi Nagar, located in Kayirambedu village under the Chengleput Joint II SRO, is Rs 700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Thamizh Selvi Nagar has changed

The guideline value for Thamizh Selvi Nagar has seen several revisions over the years. In 2007, the value was set at Rs 150 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33% to Rs 469 per sq.ft. Following this, there was a substantial increase of 49% from 2017 to 2023, bringing the value back to Rs 700 per sq.ft. The most recent revision in 2024 maintained this value at Rs 700 per sq.ft, resulting in no change from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 367%.

Guideline values in Kayirambedu

In Kayirambedu village, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, which is equal to the current value of Thamizh Selvi Nagar.

• Thangappan Avenue: Rs 700 per sq.ft (2024)
• Swarnamangala Nagar: Rs 700 per sq.ft (2024)
• Suseela Nagar: Rs 700 per sq.ft (2024)
• Supreem City: Rs 1,500 per sq.ft (2024)
• Thiru.Gopal Nagar: Rs 700 per sq.ft (2024)
• Thiru. Gopal Nagar Phase II: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Thamizh Selvi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000. Together, the total cost for stamp duty and registration fee would be Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thamizh Selvi Nagar?

The Sub Registrar Office that covers Thamizh Selvi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kayirambedu, as it determines the minimum value at which a property can be registered. This value is used by the registration office to calculate the stamp duty and registration fees applicable on the transaction.

When a property is sold, the sale price must be at least equal to the guideline value to ensure proper documentation and compliance with local regulations. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thamizh Selvi Nagar?

The current guideline value of Thamizh Selvi Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 150 per sq.ft in 2007 to Rs 700 per sq.ft in 2012. It then decreased to Rs 469 per sq.ft in 2017, before returning to Rs 700 per sq.ft in 2023 and maintaining that value in 2024.

What are the stamp duty and registration fees for properties in Thamizh Selvi Nagar?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000, and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Thamizh Selvi Nagar?

The Chengleput Joint II Sub Registrar Office handles property registrations for Thamizh Selvi Nagar. It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Thamizh Selvi Nagar?

The land classification for Thamizh Selvi Nagar is Residential Special Type - II, indicating its designated use for residential purposes.