Guideline Value for S.V. NAGAR

S.V. Nagar guideline value

The current guideline value of S.V. Nagar, located in Kerukampakkam village under the Oothukkottai SRO, is Rs 100 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class II Type - I.

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

Over the years, the guideline value for S.V. Nagar has seen several revisions. The 2012 revision set the value at Rs 60 per sq.ft, which increased to Rs 40 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value surged to Rs 100 per sq.ft, reflecting a significant increase of 150%. The 2023 revision maintained this value, leading to no change in the 2024 revision.

The register does not provide figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 67% from Rs 60 per sq.ft to Rs 100 per sq.ft.

Guideline values in Kerukampakkam

In Kerukampakkam, there are 8 streets under the Oothukkottai SRO that carry a 2024 guideline value. The guideline value for S.V. Nagar is equal to the median value of Rs 100 per sq.ft for these streets.

• Saraswathi Nagar: Rs 100 per sq.ft (2024)
• Rojar Garden: Rs 100 per sq.ft (2024)
• Pandurangan Nagar: Rs 100 per sq.ft (2024)
• M.R. Nagar: Rs 100 per sq.ft (2024)
• Golden Dass Nagar-Phase-2: Rs 100 per sq.ft (2024)
• Fruit Garden: Rs 100 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 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. Please note that the 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 details.

Which Sub Registrar Office covers S.V. Nagar?

The S.V. Nagar area falls under the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Kerukampakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official value as determined by the Registration Department.

When a property transaction occurs, the guideline value is referenced to determine the applicable fees. Buyers should be aware that the stamp duty is assessed on the higher of the guideline value or the sale price, which can affect the total costs involved in 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 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2012 to Rs 100 per sq.ft in 2024, with significant increases noted between 2017 and 2023.

Where can I find the Oothukkottai Sub Registrar Office?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, 602026, Chennai registration zone.

What is the stamp duty rate for property in S.V. Nagar?

The stamp duty rate for property transactions in S.V. Nagar is 7% of the guideline value or the sale price, whichever is higher.

How do I calculate the registration fees for a property?

The registration fee is calculated at 2% of the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.