Guideline Value for S.V. Nagar

S.V. Nagar guideline value

The current guideline value of S.V. Nagar, located in Kovilpathagai village under the Ambattur SRO, is Rs 803 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

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

The guideline value for S.V. Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then increased to Rs 268 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 803 per sq.ft, reflecting an increase of 200%. The most recent revision in 2024 maintained this value at Rs 803 per sq.ft, showing no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 101%.

Guideline values in Kovilpathagai

Kovilpathagai village has 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median value for these streets is Rs 870 per sq.ft, placing S.V. Nagar's 2024 figure below this median.

• Swami Pillai Street: Rs 806 per sq.ft (2024)
• Swamy Nagar: Rs 990 per sq.ft (2024)
• Swathi Street: Rs 880 per sq.ft (2024)
• Swathy Garden: Rs 880 per sq.ft (2024)
• Swathy Nagar: Rs 880 per sq.ft (2024)
• Sunnambu Kuttai: Rs 806 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 803 per sq.ft, the total guideline value amounts to Rs 8,03,000. The stamp duty at 7% would be Rs 56,210, and the registration fee at 2% would be Rs 16,060, resulting in a total of Rs 72,270. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers S.V. Nagar?

The Sub Registrar Office that covers S.V. Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

When a property transaction occurs, the guideline value helps determine the official value of the property, which can influence the overall costs involved in the transaction. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of S.V. Nagar is Rs 803 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 803 per sq.ft in 2024, showing an overall increase of 101% over this period.

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

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

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

The Sub Registrar Office for S.V. Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 803 per sq.ft incurs a total guideline value of Rs 8,03,000, leading to a stamp duty of Rs 56,210.