Guideline Value for S.P. SAVUNDARAPANDIAN NAGAR PHASE-II

S.P. Savundarapandian Nagar Phase-II guideline value

The current guideline value of S.P. Savundarapandian Nagar Phase-II is Rs 200 per sq.ft. This area is located in Achsaravakkam village, under the Thiruporur SRO. The land classification for this street is Residential Class V Type - I.

How the guideline value of S.P. Savundarapandian Nagar Phase-II has changed

The guideline value for S.P. Savundarapandian Nagar Phase-II has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 200 per sq.ft. This was followed by a decrease to Rs 134 per sq.ft in 2017, marking a change of -33%. However, from 2017 to 2023, the value saw an increase of 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision maintains this figure, showing no change from the previous year.

It is important to note that the register has no figure for this street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 200 per sq.ft.

Guideline values in Achsaravakkam

In Achsaravakkam, there are four streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 650 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, indicating that S.P. Savundarapandian Nagar Phase-II's 2024 figure is below that median.

• Sri Sai Ram Nagar: Rs 200 per sq.ft (2024)
• Velmurugan Nagar: Rs 650 per sq.ft (2024)
• Jayalakshmi Nagar Prince Garden: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in S.P. Savundarapandian Nagar Phase-II

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, while the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers S.P. Savundarapandian Nagar Phase-II?

The Sub Registrar Office that covers S.P. Savundarapandian Nagar Phase-II is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Achsaravakkam. It helps determine the stamp duty and registration fees applicable to the transaction. Buyers must consider the guideline value as it is used to calculate the costs involved in property registration.

When registering a property, the guideline value serves as a benchmark for the minimum value on which stamp duty is calculated. This ensures that the government receives a fair revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of S.P. Savundarapandian Nagar Phase-II?

The current guideline value of S.P. Savundarapandian Nagar Phase-II is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a drop to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023.

What are the guideline values of other streets in Achsaravakkam?

Other streets in Achsaravakkam have varying guideline values. Sri Sai Ram Nagar is Rs 200 per sq.ft, Velmurugan Nagar is Rs 650 per sq.ft, and Jayalakshmi Nagar Prince Garden is Rs 300 per sq.ft for 2024.

How is stamp duty calculated for properties in S.P. Savundarapandian Nagar Phase-II?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at 7%, plus a registration fee of Rs 4,000 at 2%.

Where can I find the Sub Registrar Office for S.P. Savundarapandian Nagar Phase-II?

The Thiruporur Sub Registrar Office covers S.P. Savundarapandian Nagar Phase-II and is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.