Guideline Value for Seervi Nagar

Seervi Nagar guideline value

The current guideline value of Seervi Nagar, located in Chennerkuppam village under the Kunrathur SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Seervi Nagar has changed

The guideline value for Seervi Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 300 per sq.ft, which increased dramatically to Rs 1,200 per sq.ft in the 2012 revision, marking a 300% increase. However, in the 2017 revision, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The 2023 revision saw the value rise to Rs 1,200 per sq.ft, and the latest 2024 revision has set the value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 6,895 per sq.ft, and a median value of Rs 1,540 per sq.ft. The guideline value of Seervi Nagar is below this median.

• Selva Ganapathi Nagar: Rs 1,430 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 1,320 per sq.ft (2024)
• Sastha Nagar: Rs 1,430 per sq.ft (2024)
• Sarva Ganapthi Nagar: Rs 1,430 per sq.ft (2024)
• Santron P Sakrapani Garden: Rs 2,090 per sq.ft (2024)
• Santhi Nagar: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Seervi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the 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 Seervi Nagar?

The Sub Registrar Office that covers Seervi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Chennerkuppam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value will be used to calculate the necessary fees, which are based on the higher of the guideline value or the agreed sale price. This ensures that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Seervi Nagar?

The current guideline value of Seervi Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 300 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 340%.

What is the land classification of Seervi Nagar?

Seervi Nagar is classified as Residential Class II Type - I.

Which Sub Registrar Office covers Seervi Nagar?

The Kunrathur Sub Registrar Office covers Seervi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Seervi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 92,400.