Guideline Value for Seven Hills Nagar

Seven Hills Nagar guideline value

The current guideline value of Seven Hills Nagar in Srinivasapuram village, under the Kunrathur SRO, is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Seven Hills Nagar has changed

The guideline value for Seven Hills Nagar has seen several revisions over the years. In 2003, the value was Rs 35 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2007, marking a rise of 614%. The value then jumped to Rs 1,800 per sq.ft in 2012, reflecting a substantial increase of 620%. However, it decreased to Rs 1,206 per sq.ft in 2017, which was a decline of 33%. In 2023, the value rose to Rs 1,800 per sq.ft again, and the most recent revision in 2024 set the value at Rs 2,000 per sq.ft, indicating an increase of 11% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 5614%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Srinivasapuram

Srinivasapuram village has 39 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,550 to Rs 7,400 per sq.ft, with a median of Rs 1,650 per sq.ft. The guideline value of Seven Hills Nagar is above this median.

• Sri Balaji Nagar: Rs 2,000 per sq.ft (2024)
• Sangamithra Avenue: Rs 2,000 per sq.ft (2024)
• Sri Iyyappan Nagar: Rs 1,550 per sq.ft (2024)
• Sri Kamatchi Amman Nagar I & II: Rs 2,000 per sq.ft (2024)
• Sai Rai Nagar: Rs 1,550 per sq.ft (2024)
• Srinivasa Nagar: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Seven Hills Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value would be Rs 20,00,000. The stamp duty at 7% would amount to Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, totaling Rs 1,80,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Seven Hills Nagar?

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

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

The guideline value is a crucial factor when registering property transactions in Srinivasapuram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This ensures transparency in property transactions and helps prevent undervaluation of properties.

Frequently asked questions

What is the current guideline value of Seven Hills Nagar?

The current guideline value of Seven Hills Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since 2003, the guideline value has increased from Rs 35 per sq.ft to Rs 2,000 per sq.ft in 2024, reflecting a total increase of 5614% over this period.

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

For a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000 and the registration fee would be Rs 40,000, totaling Rs 1,80,000.

Which Sub Registrar Office covers Seven Hills Nagar?

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

What is the land classification of Seven Hills Nagar?

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