Guideline Value for Sarvamangala Nagar

Sarvamangala Nagar guideline value

The current guideline value of Sarvamangala Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Kuthanoor village under the Gooduvancheri SRO, classified as Residential Class I Type - I.

How the guideline value of Sarvamangala Nagar has changed

Over the years, the guideline value for Sarvamangala Nagar has seen several revisions. In 2007, the value was Rs 110 per sq.ft, which increased significantly to Rs 550 per sq.ft in 2012. However, it then dropped to Rs 368 per sq.ft in 2017 before rising again to Rs 550 per sq.ft in both 2023 and 2024. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, while the value remained unchanged from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Kuthanoor

In Kuthanoor, there are 30 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 800 per sq.ft. Sarvamangala Nagar's 2024 figure is below this median.

• Saradhambal Nagar: Rs 550 per sq.ft (2024)
• Senthil Nagar: Rs 800 per sq.ft (2024)
• Senthil Nagar Extn: Rs 800 per sq.ft (2024)
• Ramakrishna Avenue: Rs 1,120 per sq.ft (2024)
• Sri Devi Karumariamman Nagar: Rs 550 per sq.ft (2024)
• Sri Devi Karumariamman Nagar-II: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sarvamangala Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total Rs 49,500. 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 Sarvamangala Nagar?

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

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

The guideline value is a critical factor during the registration of property transactions in Kuthanoor. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps in determining the minimum price at which the property can be registered. This ensures transparency in the transaction process and aids in preventing undervaluation of properties.

Frequently asked questions

What is the current guideline value of Sarvamangala Nagar?

The current guideline value of Sarvamangala Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 110 per sq.ft in 2007, increasing to Rs 550 per sq.ft in 2012, then dropping to Rs 368 per sq.ft in 2017, and finally stabilizing at Rs 550 per sq.ft in 2023 and 2024.

What is the classification of Sarvamangala Nagar?

Sarvamangala Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Sarvamangala Nagar?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500, and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers Sarvamangala Nagar?

The Gooduvancheri Sub Registrar Office covers Sarvamangala Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.