Guideline Value for S.V. Nagar

S.V. Nagar guideline value

The current guideline value of S.V. Nagar in Chennerkuppam village, under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

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

The guideline value for S.V. Nagar has undergone several revisions over the years. In 2007, the value was Rs 450 per sq.ft, which increased dramatically to Rs 1,900 per sq.ft in 2012. However, it then decreased to Rs 1,273 per sq.ft in 2017. The value rose to Rs 1,900 per sq.ft in 2023, and currently stands at Rs 2,090 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2007 to 2024, the overall change in guideline value is an increase of 364%. Notably, the jump from 2023 to 2024 is 10%, while the increase from 2017 to 2023 was 49%. The revision from 2012 to 2017 saw a decrease of 33%, and the leap from 2007 to 2012 was a significant 322%.

Guideline values in Chennerkuppam

Within Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, placing S.V. Nagar's 2024 figure above that median.

• Suresh Avenue: Rs 2,249 per sq.ft (2024)
• Teak Haven: Rs 4,105 per sq.ft (2024)
• Subramaniya Swamy Koil Street: Rs 1,430 per sq.ft (2024)
• Thangavel Nagar: Rs 1,430 per sq.ft (2024)
• Sri Sakunthalanagar: Rs 1,430 per sq.ft (2024)
• Srinivasa Nagar: Rs 2,090 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 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, while the registration fee at 2% would be Rs 41,800, bringing the total cost to Rs 1,88,100. 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 Sub Registrar Office that covers S.V. Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Chennerkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. This means that if the sale price is lower than the guideline value, the buyer will still need to pay duty based on the guideline value.

Frequently asked questions

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

The current guideline value of S.V. Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 2,090 per sq.ft in 2024, showing an overall increase of 364% over the years.

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

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

Which office handles registrations for S.V. Nagar?

The Kunrathur Sub Registrar Office handles registrations for S.V. Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

Are there other streets with guideline values in Chennerkuppam?

Yes, there are 74 streets in Chennerkuppam under the Kunrathur SRO with guideline values ranging from Rs 1,100 to Rs 6,895 per sq.ft.