Guideline Value for Silvar Nagar

Silvar Nagar guideline value

The current guideline value of Silvar Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Silvar Nagar has changed

Over the years, the guideline value of Silvar Nagar has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, this figure dropped to Rs 402 per sq.ft in 2017. The next revision in 2023 raised the value to Rs 600 per sq.ft, and the most recent revision in 2024 has set it at Rs 660 per sq.ft.

In terms of percentage changes, the guideline value increased by 100% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The latest revision from 2023 to 2024 shows an increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 120%. Note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median guideline value is Rs 660 per sq.ft, which is equal to the current value of Silvar Nagar.

• Sheelo Nagar: Rs 440 per sq.ft (2024)
• Senthil Nagar: Rs 880 per sq.ft (2024)
• Sri Jayamohan Nagar: Rs 880 per sq.ft (2024)
• Sri Krishna Nagar: Rs 660 per sq.ft (2024)
• Sri Krishna Nagar Annexe: Rs 660 per sq.ft (2024)
• Sri Krishna Nagar Annex Extension - III: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Silvar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Silvar Nagar?

The Sub Registrar Office that covers Silvar Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Grandlyon, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Silvar Nagar?

The current guideline value of Silvar Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, with several revisions in between.

What is the registration office for Silvar Nagar?

The registration office for Silvar Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty rates for property in Silvar Nagar?

The stamp duty for property in Silvar Nagar is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

What is the median guideline value in Grandlyon?

The median guideline value in Grandlyon is Rs 660 per sq.ft, which is the same as the current guideline value for Silvar Nagar.