Guideline Value for S.R.V. Nagar

S.R.V. Nagar guideline value

The current guideline value for S.R.V. Nagar, located in Vilangadupakkam village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class III Type - I land classification.

How the guideline value of S.R.V. Nagar has changed

The guideline value for S.R.V. Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, when the guideline value was Rs 200 per sq.ft. This increased to Rs 400 per sq.ft in 2012, marking a 100% rise. However, in 2017, the value dropped to Rs 268 per sq.ft, a decrease of 33%. The value then rose significantly to Rs 400 per sq.ft in 2023, and subsequently to Rs 440 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%, highlighting the changes in property valuation over the years.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft. The median value for these streets is Rs 440 per sq.ft, which is the same as the current guideline value for S.R.V. Nagar.

• Ssi Nagar: Rs 440 per sq.ft (2024)
• Ssi Nagar Phase - I: Rs 440 per sq.ft (2024)
• Sri Vigneswara Nagar: Rs 770 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 770 per sq.ft (2024)
• Sri Venkateshwara Nagar Part - 4: Rs 440 per sq.ft (2024)
• Sri Venkateshwara Nagar Part - 2: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.V. Nagar

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

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

Which Sub Registrar Office covers S.R.V. Nagar?

The Sub Registrar Office that covers S.R.V. Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Vilangadupakkam. It serves as a reference point for determining the minimum value of a property, ensuring that the property is not undervalued during the registration process.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the costs involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of S.R.V. Nagar?

The current guideline value of S.R.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 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 120% over these years.

What is the land classification for S.R.V. Nagar?

S.R.V. Nagar is classified as Residential Class III Type - I, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for S.R.V. Nagar?

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

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

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