Guideline Value for SRI VEL NNAGAR

Sri Vel Nnagar guideline value

The current guideline value of Sri Vel Nnagar, located in Adhanoor village under the Gooduvancheri SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Vel Nnagar has changed

The guideline value for Sri Vel Nnagar has seen several revisions over the years. In the 2017 revision, the guideline value was Rs 670 per sq.ft. This remained unchanged in the 2023 revision, which also recorded Rs 1,000 per sq.ft. The latest revision in 2024 again set the value at Rs 1,000 per sq.ft, indicating no change from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been an increase of 49%. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 670 to Rs 3,000 per sq.ft. The median value among these streets is Rs 1,000 per sq.ft, which is equal to the guideline value of Sri Vel Nnagar.

• Sri Vasudev Nagar Extn: Rs 1,000 per sq.ft (2024)
• Sri Vasudev Nagar: Rs 1,000 per sq.ft (2024)
• Sri Swamynathan Nagar: Rs 1,000 per sq.ft (2024)
• Sri Sathyasai Nagar: Rs 670 per sq.ft (2024)
• Subash Nagar: Rs 1,000 per sq.ft (2024)
• Sri Sairam Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vel Nnagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. 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 precise calculations.

Which Sub Registrar Office covers Sri Vel Nnagar?

The Sri Vel Nnagar area falls under 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 Adhanoor

The guideline value is a crucial factor when buying or selling property in Adhanoor, 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 that need to be paid during the transaction.

When a property is sold, the sale price must be at least equal to the guideline value to ensure proper registration. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Vel Nnagar?

The current guideline value of Sri Vel Nnagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in both 2023 and 2024. There were no changes in the guideline value from 2023 to 2024.

What is the land classification of Sri Vel Nnagar?

Sri Vel Nnagar is classified as Residential Special Type - I, which indicates its designation for residential purposes.

What are the registration fees for property transactions in Sri Vel Nnagar?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000, and the registration fee would be Rs 20,000, totaling Rs 90,000. Fees are based on the higher of the guideline value or the sale price.

Where can I find the Gooduvancheri Sub Registrar Office?

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