Guideline Value for S.V.P GARDEN EXTENSTION - I

S.V.P Garden Extenstion - I guideline value

The current guideline value of S.V.P Garden Extenstion - I is Rs 1,480 per sq.ft, effective from 1 July 2024. This property is located in Serapanancheri village and falls under the Padappai SRO. The land classification for this area is Mixed Type - II.

How the guideline value of S.V.P Garden Extenstion - I has changed

The guideline value for S.V.P Garden Extenstion - I has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 900 per sq.ft. This increased to Rs 1,344 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value rise to Rs 1,480 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 440 to Rs 4,440 per sq.ft, with a median value of Rs 720 per sq.ft. The guideline value for S.V.P Garden Extenstion - I is above this median.

• S.V.P.Garden: Rs 990 per sq.ft (2024)
• S.V.P.Avenue: Rs 990 per sq.ft (2024)
• Teachers Colony: Rs 720 per sq.ft (2024)
• Thennarasu Street: Rs 720 per sq.ft (2024)
• Sri Sastha Nagar: Rs 720 per sq.ft (2024)
• Thiruchendur Avenue: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in S.V.P Garden Extenstion - I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,480 per sq.ft, the total guideline value amounts to Rs 14,80,000. The stamp duty at 7% would be Rs 1,03,600, and the registration fee at 2% would be Rs 29,600, making the total cost for these fees Rs 1,33,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.V.P Garden Extenstion - I?

The S.V.P Garden Extenstion - I is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Serapanancheri. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers must consider this value during negotiations to ensure compliance with registration norms.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value for S.V.P Garden Extenstion - I?

The current guideline value for S.V.P Garden Extenstion - I is Rs 1,480 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 900 per sq.ft in 2017 to Rs 1,480 per sq.ft in 2024, reflecting a total increase of 64% over these years.

What are the other streets in Serapanancheri and their guideline values?

Other streets in Serapanancheri include S.V.P.Garden and S.V.P.Avenue, both at Rs 990 per sq.ft, and Teachers Colony, Thennarasu Street, and Sri Sastha Nagar, all at Rs 720 per sq.ft for 2024.

What fees are associated with buying property in S.V.P Garden Extenstion - I?

When buying property in S.V.P Garden Extenstion - I, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for S.V.P Garden Extenstion - I?

The Sub Registrar Office covering S.V.P Garden Extenstion - I is the Padappai SRO, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.