Guideline Value for SVS Nagar

SVS Nagar guideline value

The current guideline value of SVS Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is located in Manimangalam A village under the Padappai SRO and is classified as Residential Special Type - I.

How the guideline value of SVS Nagar has changed

The guideline value for SVS Nagar has seen significant changes over the years. In 2017, the guideline value was Rs 871 per sq.ft. This increased to Rs 1,300 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 raised the value to Rs 1,430 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median value for these streets is Rs 880 per sq.ft, making the guideline value of SVS Nagar above the median.

• T.C.Township: Rs 1,430 per sq.ft (2024)
• Tellus Avenue: Rs 1,930 per sq.ft (2024)
• Thamarai Kanni Amman Koil Street: Rs 880 per sq.ft (2024)
• Sri Vetri Nagar: Rs 880 per sq.ft (2024)
• Sri Sri Hariharan Nagar: Rs 550 per sq.ft (2024)
• Thirumalai Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in SVS Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value would be Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, making the total cost for these fees Rs 1,28,700. 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 detailed calculations.

Which Sub Registrar Office covers SVS Nagar?

The Sub Registrar Office that covers SVS Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manimangalam A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of SVS Nagar?

The current guideline value of SVS Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 871 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2023, and then to Rs 1,430 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification of SVS Nagar?

SVS Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

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

The Padappai Sub Registrar Office, which covers SVS Nagar, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in SVS Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 14,30,000, the stamp duty would be Rs 1,00,100 at 7%.