Guideline Value for SV NAGAR EXTENSION

Sv Nagar Extension guideline value

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

How the guideline value of Sv Nagar Extension has changed

The guideline value for Sv Nagar Extension has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 300 per sq.ft. The 2017 revision marked a significant increase to Rs 201 per sq.ft, which was a 33% decrease from the 2012 figure. The overall change from 2012 to 2024 shows no increase, maintaining the value at Rs 300 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 300 per sq.ft. The most recent revision in 2024 did not change the value from the previous year, keeping it at Rs 300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilkuppam

Kovilkuppam village has a total of 68 streets under the Manavalanagar SRO, with guideline values ranging from Rs 300 to Rs 800 per sq.ft. The median value for these streets is Rs 350 per sq.ft, indicating that Sv Nagar Extension's 2024 figure is below this median.

• S V Nagar: Rs 350 per sq.ft (2024)
• Surya Town: Rs 300 per sq.ft (2024)
• Srivari Nagar: Rs 300 per sq.ft (2024)
• Sri Krishna Nagar: Rs 300 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 300 per sq.ft (2024)
• Town Phase 2: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sv Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Sv Nagar Extension?

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

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

The guideline value is a crucial factor in property transactions in Kovilkuppam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

During the registration process, the guideline value ensures that the property is recorded at a fair value, helping to maintain transparency in real estate transactions. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sv Nagar Extension?

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

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the 2012 figure at Rs 300 per sq.ft, the 2017 figure at Rs 201 per sq.ft, and it returning to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for Sv Nagar Extension?

The land classification for Sv Nagar Extension is Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sv Nagar Extension located?

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