Guideline Value for S.V.M.Nagar

S.V.M.Nagar guideline value

The current guideline value of S.V.M.Nagar, located in Ernavur village under the Thiruvottiyur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

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

The guideline value for S.V.M.Nagar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision set the value at Rs 1,500 per sq.ft, and the latest revision in 2024 raised it to Rs 1,600 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 540%. The changes between the revisions are notable: from 2007 to 2012, there was a 500% increase, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was a 7% increase from 2023 to 2024.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft. The median for these streets is Rs 1,600 per sq.ft, which is equal to the guideline value of S.V.M.Nagar.

• Sri Rangam New Town And All Phases: Rs 3,800 per sq.ft (2024)
• Thirumoorthi Nagar: Rs 3,300 per sq.ft (2024)
• Srinivasa Perumal Koil street/Perumal Koil street: Rs 1,400 per sq.ft (2024)
• Thiruvalluvar Nagar/Street: Rs 1,600 per sq.ft (2024)
• Thiruveethiyamman Koil Street: Rs 1,400 per sq.ft (2024)
• Thiruvotthiyur High Road: Rs 3,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. 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.M.Nagar?

The Sub Registrar Office that covers S.V.M.Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration of property transactions in Ernavur. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees that buyers need to pay.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, thereby aiding in transparency within the real estate market. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of S.V.M.Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 540% over the years.

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

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

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at a rate of 7%.