Guideline Value for SHRI SIVASAKTHI VINAYAGAR NAGAR

Shri Sivasakthi Vinayagar Nagar guideline value

The current guideline value of Shri Sivasakthi Vinayagar Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Koladi village and falls under the Chennai South Joint II SRO. The land classification for this locality is Residential Class II Type - I.

How the guideline value of Shri Sivasakthi Vinayagar Nagar has changed

Over the years, the guideline value of Shri Sivasakthi Vinayagar Nagar has seen several revisions. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 233%. However, from 2012 to 2017, the value decreased by 33% to Rs 670 per sq.ft. The 2023 revision set the value at Rs 1,000 per sq.ft, which then increased to Rs 1,100 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value to Rs 1,000 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 267%, highlighting significant changes over the years. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the current guideline value of Shri Sivasakthi Vinayagar Nagar.

• Shri Karumari Nagar: Rs 1,100 per sq.ft (2024)
• Shri Devi Karumari Nagar: Rs 1,100 per sq.ft (2024)
• Shri Abirami Nagar: Rs 660 per sq.ft (2024)
• Sivan Koil Street: Rs 660 per sq.ft (2024)
• Seshadhri Street: Rs 660 per sq.ft (2024)
• Sivasakthi Vinayagar Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Sivasakthi Vinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. 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 more detailed calculations.

Which Sub Registrar Office covers Shri Sivasakthi Vinayagar Nagar?

The Shri Sivasakthi Vinayagar Nagar area is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Koladi. It determines the minimum value at which a property can be sold and serves as a basis for calculating stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. This helps maintain transparency in property transactions and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Shri Sivasakthi Vinayagar Nagar?

The current guideline value of Shri Sivasakthi Vinayagar Nagar is Rs 1,100 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 1,100 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification for Shri Sivasakthi Vinayagar Nagar?

The land classification for Shri Sivasakthi Vinayagar Nagar is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Shri Sivasakthi Vinayagar Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.