Guideline Value for Seva Nagar

Seva Nagar guideline value

The current guideline value of Seva Nagar, located in Nattarasampattu village under the Gooduvancheri SRO, is Rs 350 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - I.

How the guideline value of Seva Nagar has changed

Over the years, the guideline value for Seva Nagar has seen several revisions. The 2007 revision set the value at Rs 40 per sq.ft, which was a significant increase from the previous years, as there are no figures available for 2002 and 2003. The 2012 revision raised it to Rs 350 per sq.ft, marking a remarkable increase of 775%. However, the 2017 revision saw a decrease to Rs 234 per sq.ft, a drop of 33%. The value remained at Rs 350 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

From 2017 to 2023, the guideline value increased by 50%, bringing it back to Rs 350 per sq.ft. The overall increase from the 2007 revision to the 2024 revision is 775%, highlighting the significant changes in the guideline value over the years.

Guideline values in Nattarasampattu

Nattarasampattu village has a total of 24 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 700 per sq.ft. The median value is Rs 350 per sq.ft, which is the same as the guideline value for Seva Nagar. This positions Seva Nagar in line with the median for the village.

• Shree Akshara Garden: Rs 700 per sq.ft (2024)
• Shri Shanmuga Nagar: Rs 350 per sq.ft (2024)
• Sivagasinthamani Nagar: Rs 250 per sq.ft (2024)
• Sri Adhitya Avenue: Rs 350 per sq.ft (2024)
• Subamathi Nagar: Rs 350 per sq.ft (2024)
• S.V.P. Estate Lakshmi Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Seva Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. 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 a more detailed calculation based on your specific property.

Which Sub Registrar Office covers Seva Nagar?

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

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

The guideline value plays a crucial role during the registration process when buying or selling property in Nattarasampattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the government receives the appropriate revenue based on the established values. This process helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Seva Nagar?

The current guideline value of Seva Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 40 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, then decreasing to Rs 234 per sq.ft in 2017, and finally stabilizing at Rs 350 per sq.ft in 2023 and 2024.

What is the land classification for Seva Nagar?

Seva Nagar is classified as Residential Special Type - I, which indicates its intended use and development potential within the village.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Seva Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 3,50,000 would incur a stamp duty of Rs 24,500 at 7% and a registration fee of Rs 7,000 at 2%.