Guideline Value for SANJEEVI NAGAR

Sanjeevi Nagar guideline value

The current guideline value of Sanjeevi Nagar, located in Kovilkuppam village under the Manavalanagar SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Sanjeevi Nagar has changed

The guideline value for Sanjeevi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which was a decrease of 33% from the 2017 revision value of Rs 201 per sq.ft. The 2023 revision maintained the value at Rs 300 per sq.ft, which remained unchanged in the 2024 revision as well.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 300 per sq.ft. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 300 per sq.ft.

Guideline values in Kovilkuppam

Kovilkuppam village features 68 streets under the Manavalanagar SRO, with guideline values ranging from Rs 300 to Rs 800 per sq.ft. The median guideline value for these streets is Rs 350 per sq.ft, placing Sanjeevi Nagar's 2024 figure below that median.

• Rk Nagar: Rs 300 per sq.ft (2024)
• Revathy Garden: Rs 300 per sq.ft (2024)
• Senthil Andavar Nagar: Rs 300 per sq.ft (2024)
• Ramasamy Nagar: Rs 300 per sq.ft (2024)
• Raja Rathinam Nagar: Rs 400 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sanjeevi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It's important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sanjeevi Nagar?

The Sub Registrar Office that covers Sanjeevi Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property transactions in Kovilkuppam. It serves as the base for calculating stamp duty and registration fees, which are mandatory when registering property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps determine the official valuation for tax purposes. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sanjeevi Nagar?

The current guideline value of Sanjeevi Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2012, with a significant increase of 49% from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023.

What is the land classification of Sanjeevi Nagar?

Sanjeevi Nagar is classified as Residential Class III Type - I, which indicates its suitability for residential purposes.

What are the stamp duty rates for property transactions in Sanjeevi Nagar?

The stamp duty rate for property transactions in Sanjeevi Nagar 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 Sanjeevi Nagar?

The Sub Registrar Office for Sanjeevi Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.