Guideline Value for SUN VILLE

Sun Ville guideline value

The current guideline value of Sun Ville, located in Mannivakkam village under the Gooduvancheri SRO, is Rs 3,450 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Sun Ville has changed

The guideline value for Sun Ville has seen significant changes over the years. In the 2017 revision, the value was set at Rs 2,100 per sq.ft. This increased to Rs 3,135 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the value by 10%, bringing it to Rs 3,450 per sq.ft. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The consistent upward trend in the guideline value reflects changes in the local real estate landscape.

Guideline values in Mannivakkam

Mannivakkam village has a total of 118 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,215 per sq.ft, indicating that Sun Ville's 2024 figure of Rs 3,450 per sq.ft is above the median.

• Sunshine Nagar: Rs 1,100 per sq.ft (2024)
• Sundar Nagar Extn: Rs 1,320 per sq.ft (2024)
• Sundar Nagar: Rs 1,320 per sq.ft (2024)
• S.V. Nagar: Rs 770 per sq.ft (2024)
• Teachers Colony: Rs 990 per sq.ft (2024)
• Submangala Avenue: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Sun Ville

For a 1,000 sq.ft plot at the current guideline value of Rs 3,450 per sq.ft, the total guideline value would be Rs 34,50,000. The stamp duty, charged at 7%, would be Rs 2,41,500, and the registration fee, charged at 2%, would be Rs 69,000. Together, this amounts to Rs 3,10,500. It is important to note that the stamp 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 Sun Ville?

The Sub Registrar Office that covers Sun Ville is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mannivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer and seller must ensure that the sale price meets or exceeds the guideline value, as the stamp duty is calculated based on the higher of the two figures. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sun Ville?

The current guideline value of Sun Ville is Rs 3,450 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,100 per sq.ft to Rs 3,450 per sq.ft in 2024, marking an overall increase of 64%.

What are the other streets in Mannivakkam with their guideline values?

Other streets in Mannivakkam include Sunshine Nagar at Rs 1,100 per sq.ft, Sundar Nagar Extn and Sundar Nagar at Rs 1,320 per sq.ft, S.V. Nagar and Submangala Avenue at Rs 770 per sq.ft, and Teachers Colony at Rs 990 per sq.ft.

Where can I find the Sub Registrar Office for Sun Ville?

The Gooduvancheri Sub Registrar Office covers Sun Ville and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sun Ville?

Stamp duty for properties in Sun Ville is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.