Guideline Value for S.V. NAIDU NAGAR

S.V. Naidu Nagar guideline value

The current guideline value of S.V. Naidu Nagar is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Vengaivasal village under the Selaiyur SRO and is classified as Residential Class IV Type - I.

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

Over the years, the guideline value of S.V. Naidu Nagar has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 469 per sq.ft. However, in the 2023 revision, the value increased significantly to Rs 700 per sq.ft, followed by a further increase to Rs 850 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. Then, from 2017 to 2023, it surged by 49%. The overall change from 2012 to 2024 shows an increase of 21% in the guideline value.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, indicating that the guideline value of S.V. Naidu Nagar is below this median.

• Suseela Nagar: Rs 2,350 per sq.ft (2024)
• Suseela Avenue: Rs 3,300 per sq.ft (2024)
• Thangam Nagar: Rs 3,200 per sq.ft (2024)
• Sudarasana Prasad Nagar: Rs 2,350 per sq.ft (2024)
• St.THOMAS NAGAR: Rs 2,700 per sq.ft (2024)
• Theshiv Rkj Elite: Rs 4,450 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total cost for these fees to Rs 76,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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

S.V. Naidu Nagar falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Vengaivasal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When a buyer or seller engages in a transaction, the guideline value is used to calculate applicable fees, such as stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the property transfer process.

Frequently asked questions

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

The current guideline value of S.V. Naidu Nagar is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 850 per sq.ft in 2024.

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

S.V. Naidu Nagar is classified as Residential Class IV Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 8,50,000, the stamp duty would be Rs 59,500, and the registration fee would be Rs 17,000, totaling Rs 76,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for S.V. Naidu Nagar?

The Selaiyur Sub Registrar Office handles the registration for S.V. Naidu Nagar, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.