Guideline Value for Sundara Vinayagar Nagar (S.V. Nagar)

Sundara Vinayagar Nagar (S.V. Nagar) guideline value

The current guideline value of Sundara Vinayagar Nagar (S.V. Nagar) is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Pullilyon village and falls under the Redhills SRO. The land classification for this locality is Residential Class III Type - I.

How the guideline value of Sundara Vinayagar Nagar (S.V. Nagar) has changed

Over the years, the guideline value of Sundara Vinayagar Nagar has seen significant changes. In 2003, the guideline value was Rs 20 per sq.ft, which increased to Rs 200 per sq.ft in 2007, marking a substantial rise of 900%. The value then fluctuated, reaching Rs 400 per sq.ft in 2012, before dropping to Rs 268 per sq.ft in 2017, a decrease of 33%. The value saw a notable increase to Rs 400 per sq.ft in 2023, followed by the latest revision to Rs 440 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2003 to 2024, the increase has been a remarkable 2100%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Pullilyon

In Pullilyon, there are 77 streets under the Redhills SRO with a guideline value for 2024 ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Sundara Vinayagar Nagar's 2024 figure below that median.

• Sundara Vinayagar Koil Street: Rs 440 per sq.ft (2024)
• Suyambulingam Nagar: Rs 770 per sq.ft (2024)
• Subash Nagar Annex I: Rs 550 per sq.ft (2024)
• St. Antony's Avenue: Rs 440 per sq.ft (2024)
• Teachers Modern Town: Rs 770 per sq.ft (2024)
• St. Anthony Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sundara Vinayagar Nagar (S.V. Nagar)

For a 1,000 sq.ft plot at the current rate of Rs 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty, charged at 7%, would be Rs 30,800, while the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundara Vinayagar Nagar (S.V. Nagar)?

The Sub Registrar Office that covers Sundara Vinayagar Nagar (S.V. 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 details.

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

The guideline value is a crucial factor when registering property in Pullilyon. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value may influence the sale price, as it serves as a benchmark for transactions. Buyers and sellers should be aware of the current guideline value to make informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Sundara Vinayagar Nagar?

The current guideline value of Sundara Vinayagar Nagar (S.V. Nagar) is Rs 440 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 20 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 2100% over this period.

What are the stamp duty and registration fees in Sundara Vinayagar Nagar?

For a property valued at Rs 4,40,000, the stamp duty is Rs 30,800 and the registration fee is Rs 8,800, totaling Rs 39,600.

Which office handles property registrations for Sundara Vinayagar Nagar?

The Redhills Sub Registrar Office handles property registrations for Sundara Vinayagar Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How does the guideline value affect property transactions?

The guideline value serves as a minimum benchmark for property registration, influencing the stamp duty and registration fees that need to be paid during a transaction.