Guideline Value for SIVA AVENUE

Siva Avenue guideline value

The current guideline value of Siva Avenue, located in Pallikaranai village under the Chennai South Joint I SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class IV Type - II land classification.

How the guideline value of Siva Avenue has changed

In the 2012 revision, the guideline value for Siva Avenue was Rs 1,200 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,320 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Siva Avenue's 2024 figure below that median.

• Siva Nagar: Rs 1,320 per sq.ft (2024)
• Shri Thirumalai Nagar: Rs 1,320 per sq.ft (2024)
• Shri Sai Baba Nagar: Rs 1,650 per sq.ft (2024)
• Shri Parthasarathy Street: Rs 1,320 per sq.ft (2024)
• Shri Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Shri Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, resulting in a total of Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Siva Avenue?

Siva Avenue falls under the jurisdiction of the Chennai South Joint I 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 Pallikaranai

The guideline value is a crucial element in the property registration process in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory charges during the transaction. This ensures that both the buyer and seller are aware of the financial obligations involved in the property transfer.

Frequently asked questions

What is the current guideline value of Siva Avenue?

The current guideline value of Siva Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,200 per sq.ft in 2012 to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase over this period.

What is the land classification for Siva Avenue?

Siva Avenue is classified as Residential Class IV Type - II, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties in Siva Avenue?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles the registration for Siva Avenue?

The registration for Siva Avenue is managed by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.