Guideline Value for SILVER NAGAR/EXT

Silver Nagar/Ext guideline value

The current guideline value of Silver Nagar/Ext is Rs 495 per sq.ft, effective from 1 July 2024. This area is located in Vellivoyal village under the Thiruvottiyur Sub Registrar Office (SRO) and is classified as Residential Class I Type - II.

How the guideline value of Silver Nagar/Ext has changed

The guideline value for Silver Nagar/Ext has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 495 per sq.ft, which is an increase from Rs 450 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 301 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 50%, and from 2017 to 2024, it has risen by 64%. The change from 2023 to 2024 represents a 10% increase in the guideline value.

Guideline values in Vellivoyal

In Vellivoyal, there are 23 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 715 per sq.ft, with a median value of Rs 440 per sq.ft. Silver Nagar/Ext's 2024 figure of Rs 495 per sq.ft is above this median.

• Sri Krishna Nagar/Ext: Rs 440 per sq.ft (2024)
• Sri Ram Nagar/Ext: Rs 440 per sq.ft (2024)
• Sri Sankara Vetrivel Garden: Rs 440 per sq.ft (2024)
• Subathra Nagar: Rs 330 per sq.ft (2024)
• Thekkan Colony: Rs 440 per sq.ft (2024)
• Thirumurthi Nagar: Rs 715 per sq.ft (2024)

Stamp duty and registration fee for property in Silver Nagar/Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 495 per sq.ft, the total guideline value would be Rs 4,95,000. The stamp duty at 7% would amount to Rs 34,650, while the registration fee at 2% would be Rs 9,900, bringing the total fees together to Rs 44,550. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Silver Nagar/Ext?

The Sub Registrar Office that covers Silver Nagar/Ext is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Vellivoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of a property.

When a property is sold or bought, the registration office uses the guideline value to calculate the necessary fees. This ensures that all transactions are conducted fairly and transparently according to the established values set by the Registration Department.

Frequently asked questions

What is the current guideline value of Silver Nagar/Ext?

The current guideline value of Silver Nagar/Ext is Rs 495 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value of Silver Nagar/Ext has increased by 64%, rising from Rs 301 per sq.ft to Rs 495 per sq.ft.

What is the stamp duty rate for property in Silver Nagar/Ext?

The stamp duty rate for property in Silver Nagar/Ext is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the guideline values of other streets in Vellivoyal?

Other streets in Vellivoyal have varying guideline values, ranging from Rs 275 to Rs 715 per sq.ft. For example, Sri Krishna Nagar/Ext and Sri Ram Nagar/Ext both have a guideline value of Rs 440 per sq.ft in 2024.