Guideline Value for S.S. Nagar

S.S. Nagar guideline value

The current guideline value of S.S. Nagar, located in Kovur village under the Kunrathur SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

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

The guideline value for S.S. Nagar has undergone several revisions over the years. In 2003, the rate was Rs 74 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2007. This was followed by a substantial jump to Rs 1,500 per sq.ft in 2012, before decreasing to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Overall, the guideline value has seen a remarkable increase from Rs 74 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, which represents an overall increase of 2130%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Kovur

Kovur village features 91 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of S.S. Nagar.

• S.R.S.Nagar: Rs 1,320 per sq.ft (2024)
• Sri Visalathchi Nagar: Rs 1,650 per sq.ft (2024)
• Sri Vijayalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Sri Vaishnavi Avenue & Extention I, II: Rs 1,650 per sq.ft (2024)
• Sri Thirumal Nagar: Rs 1,430 per sq.ft (2024)
• Subbarayan Nagar: Rs 1,320 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Therefore, the total cost for stamp duty and registration would be Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.S. Nagar?

S.S. Nagar falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For further details, you can find your SRO.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Kovur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official records.

Frequently asked questions

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

The current guideline value of S.S. Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 74 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, with various revisions in between. Notably, there was a significant increase of 500% from 2007 to 2012.

What is the land classification of S.S. Nagar?

S.S. Nagar is classified as Residential Special Type - I, which indicates its zoning for residential development.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in S.S. Nagar.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at a rate of 7%.