Guideline Value for S V NAGAR

S V Nagar guideline value

The current guideline value of S V Nagar, located in Palavedu village under the Avadi SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of S V Nagar has changed

The guideline value of S V Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 400 per sq.ft, and the most recent 2024 revision raised it further to Rs 440 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Palavedu

In Palavedu, there are 18 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 290 to Rs 1,100 per sq.ft, with the median being Rs 440 per sq.ft. S V Nagar's 2024 figure aligns with this median.

• Sri Vga Nagar: Rs 330 per sq.ft (2024)
• Sri Durgai Amman Nagar: Rs 290 per sq.ft (2024)
• Vikas Nagar: Rs 440 per sq.ft (2024)
• Yohasree Nagar: Rs 440 per sq.ft (2024)
• Palavedu Main Road: Rs 440 per sq.ft (2024)
• Om Saravana Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in S V Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, resulting in a total of Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S V Nagar?

The Sub Registrar Office that covers S V Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Palavedu. It determines the minimum value at which properties can be registered and is used to calculate stamp duty and registration fees. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value helps in establishing a baseline for the sale price. The registration office uses this value to assess the applicable fees, ensuring that both parties are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of S V Nagar?

The current guideline value of S V Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification of S V Nagar?

S V Nagar falls under the Residential Class I Type - I land classification.

Where is the Sub Registrar Office for S V Nagar located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for property in S V Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 4,40,000 would incur a stamp duty of Rs 30,800.