Guideline Value for S.V.P. Garden

S.V.P. Garden guideline value

The current guideline value of S.V.P. Garden, located in Neelamangalam village under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

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

Over the years, the guideline value of S.V.P. Garden has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 140 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking a 257% rise. However, the value then decreased to Rs 335 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 maintained the value at Rs 500 per sq.ft, and the 2024 revision also set it at Rs 500 per sq.ft, resulting in no change from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 257%.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value for S.V.P. Garden is below this median.

• Sundaram Nagar: Rs 600 per sq.ft (2024)
• Sumathi Square: Rs 500 per sq.ft (2024)
• Sri Varasakthi Vinayagar Nagar: Rs 600 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 500 per sq.ft (2024)
• Tulsi Nagar: Rs 1,300 per sq.ft (2024)
• Sri Neelagandeswarar Nagar: Rs 1,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers S.V.P. Garden?

The Sub Registrar Office that covers S.V.P. Garden is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-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 Neelamangalam

The guideline value is a crucial factor in the registration process when buying or selling property in Neelamangalam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value serves as a benchmark for calculating the stamp duty and registration fees. Buyers should be aware that these fees are charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of S.V.P. Garden?

The current guideline value of S.V.P. Garden is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 140 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, before returning to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification of S.V.P. Garden?

S.V.P. Garden is classified as Residential Class I Type - I.

Where can I find the registration office for S.V.P. Garden?

The registration office for S.V.P. Garden is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for property in S.V.P. Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 500 per sq.ft would incur a total guideline value of Rs 5,00,000, with stamp duty and registration fees totaling Rs 45,000.