Guideline Value for S.V. Nagar

S.V. Nagar guideline value

The current guideline value of S.V. Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village under the Gooduvancheri SRO and is classified as 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 2007 revision recorded a guideline value of Rs 200 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a 250% rise. However, in 2017, the value dropped to Rs 469 per sq.ft, a decrease of 33%. The subsequent revisions saw an increase to Rs 700 per sq.ft in 2023, followed by the current value of Rs 770 per sq.ft in 2024, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 285%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft, with a median value of Rs 1,215 per sq.ft. The guideline value for S.V. Nagar is below this median.

• Sun Ville: Rs 3,450 per sq.ft (2024)
• Sunshine Nagar: Rs 1,100 per sq.ft (2024)
• Sundar Nagar Extn: Rs 1,320 per sq.ft (2024)
• Sundar Nagar: Rs 1,320 per sq.ft (2024)
• Teachers Colony: Rs 990 per sq.ft (2024)
• Thangavel Nagar: Rs 1,320 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.V. Nagar?

The Sub Registrar Office that covers S.V. Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mannivakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must ensure that the sale price of the property is at least equal to the guideline value to avoid any discrepancies during registration.

When registering a property, the guideline value is referenced to calculate the applicable fees. This ensures that the transaction is legally compliant and that the government receives the necessary revenue from property sales.

Frequently asked questions

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

The current guideline value of S.V. Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 200 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, marking an overall increase of 285%.

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

S.V. Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

The Gooduvancheri Sub Registrar Office covers S.V. Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 7,70,000 would incur a stamp duty of Rs 53,900 at 7%.