Guideline Value for SIVA NAGAR

Siva Nagar guideline value

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

How the guideline value of Siva Nagar has changed

The guideline value for Siva Nagar has experienced several revisions over the years. In 2002, the value was Rs 79 per sq.ft, which increased to Rs 101 per sq.ft in 2003, marking a change of +28%. The value saw significant growth in the following years, reaching Rs 400 per sq.ft in 2007, an increase of +296%. By 2012, the value was Rs 1,200 per sq.ft, which represented a +200% rise from the previous revision. However, it dropped to Rs 804 per sq.ft in 2017, a decrease of -33%. The value then rose to Rs 1,200 per sq.ft in 2023, and most recently, it has increased to Rs 1,320 per sq.ft in 2024, reflecting a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +1571%. The register does not have figures for any revisions other than those mentioned above.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as of 2024. The median guideline value in this area is Rs 1,650 per sq.ft, placing Siva Nagar's 2024 figure below that median.

• Siva Avenue: 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 Nagar

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

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Siva Nagar?

The Sub Registrar Office that covers Siva Nagar is 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. For more information, you can find your SRO.

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

The guideline value is a critical factor during the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

When a property is registered, the guideline value helps in establishing a fair transaction value, and it is essential for both buyers and sellers to be aware of these figures to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Siva Nagar?

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

How has the guideline value changed over the years?

The guideline value for Siva Nagar has changed significantly from Rs 79 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of +1571%.

What is the median guideline value for streets in Pallikaranai?

The median guideline value for streets in Pallikaranai is Rs 1,650 per sq.ft, with Siva Nagar's current figure being below this median.

What are the stamp duty and registration fees for property in Siva Nagar?

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 property registrations in Siva Nagar?

The Chennai South Joint I Sub Registrar Office handles property registrations for Siva Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.