Guideline Value for S.V.P. Estate Lakshmi Nagar Phase-I

S.V.P. Estate Lakshmi Nagar Phase-I guideline value

The current guideline value of S.V.P. Estate Lakshmi Nagar Phase-I is Rs 350 per sq.ft. This property is located in Nattarasampattu village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of S.V.P. Estate Lakshmi Nagar Phase-I has changed

The guideline value for S.V.P. Estate Lakshmi Nagar Phase-I has seen several revisions over the years. The 2007 revision set the value at Rs 40 per sq.ft, which increased significantly to Rs 350 per sq.ft in the 2012 revision. However, in the 2017 revision, the value rose to Rs 234 per sq.ft, marking a 50% increase from the previous figure. The 2023 revision maintained the value at Rs 350 per sq.ft, and the current 2024 revision continues this trend with no change, remaining at Rs 350 per sq.ft.

It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 775%.

Guideline values in Nattarasampattu

In Nattarasampattu, there are 24 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 700 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for S.V.P. Estate Lakshmi Nagar Phase-I is equal to this median value.

• S.V.P. Estate Lakshmi Nagar: Rs 350 per sq.ft (2024)
• Subamathi Nagar: Rs 350 per sq.ft (2024)
• Valayapathi Avenue: Rs 350 per sq.ft (2024)
• Sri Adhitya Avenue: Rs 350 per sq.ft (2024)
• Sivagasinthamani Nagar: Rs 250 per sq.ft (2024)
• Shri Shanmuga Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in S.V.P. Estate Lakshmi Nagar Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total charges to Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details on calculating these fees.

Which Sub Registrar Office covers S.V.P. Estate Lakshmi Nagar Phase-I?

The S.V.P. Estate Lakshmi Nagar Phase-I is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Nattarasampattu. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount in taxes based on the property's assessed value.

Frequently asked questions

What is the current guideline value of S.V.P. Estate Lakshmi Nagar Phase-I?

The current guideline value of S.V.P. Estate Lakshmi Nagar Phase-I is Rs 350 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 40 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, then to Rs 234 per sq.ft in 2017, and finally stabilizing at Rs 350 per sq.ft in both 2023 and 2024.

What are the other streets in Nattarasampattu with similar guideline values?

Other streets in Nattarasampattu with a guideline value of Rs 350 per sq.ft include Subamathi Nagar, Valayapathi Avenue, Sri Adhitya Avenue, and Shri Shanmuga Nagar. Sivagasinthamani Nagar has a lower value of Rs 250 per sq.ft.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 3,50,000, the stamp duty is Rs 24,500 and the registration fee is Rs 7,000, totaling Rs 31,500. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles the registration for S.V.P. Estate Lakshmi Nagar Phase-I?

The Gooduvancheri Sub Registrar Office handles the registration for S.V.P. Estate Lakshmi Nagar Phase-I. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.