Guideline Value for S.V.P.Garden

S.V.P.Garden guideline value

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

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

The guideline value for S.V.P.Garden has seen several revisions over the years. In 2012, the value was set at Rs 900 per sq.ft. This figure then decreased to Rs 603 per sq.ft in 2017, marking a decline of 33%. However, the value rebounded significantly to Rs 900 per sq.ft in 2023, and further increased by 10% to Rs 990 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. Overall, when comparing the 2012 value to the current 2024 figure, there has been a total increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,440 per sq.ft. The median guideline value for these streets is Rs 720 per sq.ft, placing S.V.P.Garden's 2024 figure above this median.

• S.V.P.Avenue: Rs 990 per sq.ft (2024)
• S.V.Garden Extension - 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.Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800. Together, the total cost for duty and registration would be Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers S.V.P.Garden 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 is a crucial factor when buying or selling property in Serapanancheri, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as per the government’s assessment. Buyers and sellers must consider this value to comply with legal requirements during property transactions.

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 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 increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What are the other streets with guideline values in Serapanancheri?

Other streets in Serapanancheri include S.V.P.Avenue and Thiruchendur Avenue, both at Rs 990 per sq.ft, and S.V.Garden Extension - I at Rs 1,480 per sq.ft, among others.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

Stamp duty for properties in S.V.P.Garden is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft, the total guideline value is Rs 9,90,000, leading to a stamp duty of Rs 69,300 at 7%.