Guideline Value for S.V.P. Lingam Nagar

S.V.P. Lingam Nagar guideline value

The current guideline value of S.V.P. Lingam Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Keelakazhani village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

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

The guideline value for S.V.P. Lingam Nagar has seen several revisions over the years. In 2007, the value was Rs 107 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it dropped to Rs 469 per sq.ft in 2017. The value remained unchanged at Rs 700 per sq.ft in both 2023 and the upcoming 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2007 to 2024 shows a substantial increase of 554%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Keelakazhani

In Keelakazhani, there are 35 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,000 per sq.ft, with a median of Rs 700 per sq.ft. The guideline value for S.V.P. Lingam Nagar aligns perfectly with this median.

• Teachers Saibaba Garden: Rs 700 per sq.ft (2024)
• Teachers Township Phase-II (Sri Mahalakshmi Nagar): Rs 600 per sq.ft (2024)
• Teachers township Phase -I: Rs 600 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 700 per sq.ft (2024)
• Sri Selva Vinayagar Nagar: Rs 500 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost to Rs 63,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers S.V.P. Lingam Nagar?

The S.V.P. Lingam Nagar area falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property in Keelakazhani. It determines the amount of stamp duty and registration fees payable during the transaction. Buyers and sellers should be aware that the guideline value will influence the overall cost of property transfer.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the registration process is conducted fairly and in accordance with the established values.

Frequently asked questions

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

The current guideline value of S.V.P. Lingam Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being Rs 700 per sq.ft in both 2023 and 2024. It was Rs 469 per sq.ft in 2017 and Rs 700 per sq.ft in 2012.

What are the stamp duty and registration fees for properties in S.V.P. Lingam Nagar?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000.

Which office handles registrations for S.V.P. Lingam Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for S.V.P. Lingam Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

What is the land classification for S.V.P. Lingam Nagar?

S.V.P. Lingam Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.