Guideline Value for SKY NAGAR

Sky Nagar guideline value

The current guideline value of Sky Nagar, located in Kavanur village under the Gooduvancheri SRO, is Rs 700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Sky Nagar has changed

The guideline value for Sky Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 700 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 700 per sq.ft. The 2017 revision marked a decrease to Rs 469 per sq.ft, representing a -33% change from the 2012 figure. The most significant change occurred between the 2017 and 2023 revisions, where the value increased by 49% back to Rs 700 per sq.ft.

As of the latest 2024 revision, the guideline value remains at Rs 700 per sq.ft, showing no change from the previous year. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kavanur

Kavanur village has a total of 109 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 500 to Rs 2,239 per sq.ft. The median guideline value for these streets is Rs 800 per sq.ft, placing Sky Nagar's 2024 figure below this median.

• Sri Andal Co-op Nagar: Rs 600 per sq.ft (2024)
• Sri Andal Co-op Nagar Extn, Part-II: Rs 600 per sq.ft (2024)
• Shirdi Sai Avenue: Rs 500 per sq.ft (2024)
• Sharveswarar Nagar: Rs 600 per sq.ft (2024)
• Sri Gopalakrishna Nagar: Rs 1,000 per sq.ft (2024)
• Sri Gopalakrishna Nagar Extension: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sky Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total cost for these fees Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sky Nagar?

The Sub Registrar Office that covers Sky Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Kavanur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps in assessing the minimum value on which the stamp duty is calculated. Buyers must be aware that the guideline value may differ from the actual sale price, but the duty is charged on the higher of the two values.

Frequently asked questions

What is the current guideline value of Sky Nagar?

The current guideline value of Sky Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft from 2012 to 2024, with a decrease to Rs 469 per sq.ft in 2017. The value increased by 49% from 2017 to 2023, returning to Rs 700 per sq.ft.

What is the land classification for Sky Nagar?

The land classification for Sky Nagar is Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Sky Nagar?

The Gooduvancheri Sub Registrar Office, which covers Sky Nagar, is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sky Nagar?

The stamp duty for properties in Sky Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.