Guideline Value for S.V.R. EXPORT

S.V.R. Export guideline value

The current guideline value of S.V.R. Export, located in Manapakkam village, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - I, and it falls under the Chennai South Joint I SRO.

How the guideline value of S.V.R. Export has changed

Since the 2002 revision, the guideline value for S.V.R. Export has seen significant changes. In 2002, the value was Rs 97 per sq.ft, which increased to Rs 108 per sq.ft in 2003, marking an 11% rise. The value then jumped to Rs 400 per sq.ft in 2007, reflecting a 270% increase. Following that, the 2012 revision set the value at Rs 2,000 per sq.ft, which was a 400% increase from 2007. However, this value dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, and the latest revision in 2024 set it at Rs 2,200 per sq.ft, an increase of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 2168%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for the area is Rs 2,530 per sq.ft, making the guideline value of S.V.R. Export below this median.

• Tank Street: Rs 2,200 per sq.ft (2024)
• Sujatha Lane: Rs 3,300 per sq.ft (2024)
• Thalaivar Munusamy Street: Rs 2,200 per sq.ft (2024)
• Sri Vatsa Foundations Main Salai Right: Rs 1,650 per sq.ft (2024)
• Sri Vatsa Foundations Main Salai Left: Rs 1,650 per sq.ft (2024)
• Sri Vatsa Foundations Main Salai: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in S.V.R. Export

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that 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 more details.

Which Sub Registrar Office covers S.V.R. Export?

The Sub Registrar Office that covers S.V.R. Export is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property transaction occurs, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of S.V.R. Export?

The current guideline value of S.V.R. Export is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 97 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2168% over this period.

What is the land classification for S.V.R. Export?

S.V.R. Export is classified as Residential Class IV Type - I, indicating its designated use for residential purposes.

What are the stamp duty rates applicable in S.V.R. Export?

The stamp duty rate applicable in S.V.R. Export is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for S.V.R. Export?

The Sub Registrar Office for S.V.R. Export is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.