Guideline Value for S.V.P.Avenue

S.V.P.Avenue guideline value

The current guideline value of S.V.P.Avenue in Serapanancheri village is Rs 990 per sq.ft, effective from 1 July 2024. This property falls under the Padappai SRO and is classified as Residential Special Type - I.

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

The guideline value for S.V.P.Avenue has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 900 per sq.ft. This was followed by a decrease to Rs 603 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 900 per sq.ft, and in the latest revision for 2024, it rose further to Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the value experienced a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded 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. The median guideline value for the area is Rs 720 per sq.ft, making S.V.P.Avenue's current value above this median.

• S.V.P.Garden: Rs 990 per sq.ft (2024)
• S.V.P Garden Extenstion - I: Rs 1,480 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.Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers S.V.P.Avenue is 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 information.

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

The guideline value plays a crucial role in property transactions in Serapanancheri. It is the baseline value set by the government for the purpose of calculating stamp duty and registration fees during the sale or purchase of property.

When you register a property, the guideline value is used to determine the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

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

The current guideline value of S.V.P.Avenue is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for S.V.P.Avenue?

S.V.P.Avenue is classified as Residential Special Type - I, indicating its intended use for residential purposes.

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

The registration office for S.V.P.Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in S.V.P.Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 9,90,000 would incur a stamp duty of Rs 69,300 at the rate of 7%.