Guideline Value for Dr.Sivaji Nagar Extension

Dr.Sivaji Nagar Extension guideline value

The current guideline value for Dr.Sivaji Nagar Extension is Rs 3,190 per sq.ft, effective from 1 July 2024. This area is located in Madanandapuram village under the Kunrathur SRO, classified as Residential Special Type - III.

How the guideline value of Dr.Sivaji Nagar Extension has changed

The guideline value for Dr.Sivaji Nagar Extension has undergone several revisions over the years. The earliest recorded figure is Rs 400 per sq.ft from the 2007 revision. This increased significantly to Rs 2,900 per sq.ft in 2012, marking a 625% rise. However, between 2012 and 2017, there was a decrease to Rs 1,943 per sq.ft, which represents a decline of 33%. The value then rose again to Rs 2,900 per sq.ft in 2023, and subsequently to Rs 3,190 per sq.ft in 2024, reflecting a 10% increase.

In total, from the 2007 revision to the 2024 revision, the guideline value has increased by 698%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Madanandapuram

In Madanandapuram, there are 94 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft, with a median of Rs 3,520 per sq.ft. The guideline value for Dr.Sivaji Nagar Extension is below this median.

• Dr. Shivaji Nagar: Rs 3,190 per sq.ft (2024)
• E.V.P. Rajeswari Avenue: Rs 3,960 per sq.ft (2024)
• E.V.P. Santhosh Annuxe / Extension: Rs 3,960 per sq.ft (2024)
• E.V.P. Santhosh Nagar: Rs 3,960 per sq.ft (2024)
• E.V.P. Santhosh Nagar Extension: Rs 3,960 per sq.ft (2024)
• E,.V.P. Santhosh Nagar Extension II: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.Sivaji Nagar Extension

For a 1,000 sq.ft plot at the current rate of Rs 3,190 per sq.ft, the guideline value amounts to Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, totaling Rs 2,87,100. Please note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr.Sivaji Nagar Extension?

The Sub Registrar Office that covers Dr.Sivaji Nagar Extension 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 Madanandapuram

The guideline value is a crucial factor in property transactions in Madanandapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is used to assess the official value of the property for these purposes.

When a property is sold, the registration office will use the guideline value to calculate the necessary fees. This ensures that all transactions are recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value for Dr.Sivaji Nagar Extension?

The current guideline value for Dr.Sivaji Nagar Extension is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 400 per sq.ft in 2007 and reaching Rs 3,190 per sq.ft in 2024, marking an overall increase of 698%.

What is the registration office for Dr.Sivaji Nagar Extension?

The registration office for Dr.Sivaji Nagar Extension is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated in Dr.Sivaji Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 31,90,000 would incur a stamp duty of Rs 2,23,300 at 7%.

What are the guideline values for other streets in Madanandapuram?

Other streets in Madanandapuram have varying guideline values, with rates ranging from Rs 2,530 to Rs 5,830 per sq.ft. Dr.Sivaji Nagar Extension's value is Rs 3,190 per sq.ft, which is below the median value of Rs 3,520 per sq.ft.