Guideline Value for SIVA POOSHNAM NAGAR THIRD STREET

Siva Pooshnam Nagar Third Street guideline value

The current guideline value of Siva Pooshnam Nagar Third Street in Vengaivasal village is Rs 3,700 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Siva Pooshnam Nagar Third Street has changed

The guideline value for Siva Pooshnam Nagar Third Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was later reduced to Rs 2,345 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 3,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,700 per sq.ft, marking a 6% increase from the previous year.

Looking at the changes, from 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, positioning Siva Pooshnam Nagar Third Street above this median.

• Siva Pooshnam Nagar: Rs 3,700 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,700 per sq.ft (2024)
• Sri Balaji Nagar Part 1 To V: Rs 2,700 per sq.ft (2024)
• Sri Balaji Nagar Part IV: Rs 2,700 per sq.ft (2024)
• Sekkizhar Street: Rs 4,000 per sq.ft (2024)
• Seetthalakshmi Nagar: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Pooshnam Nagar Third Street

For a 1,000 sq.ft plot at the current rate of Rs 3,700 per sq.ft, the guideline value would be Rs 37,00,000. The stamp duty at 7% would amount to Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, totaling Rs 3,33,000. 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 details.

Which Sub Registrar Office covers Siva Pooshnam Nagar Third Street?

The Siva Pooshnam Nagar Third Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value serves as a benchmark for the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Siva Pooshnam Nagar Third Street?

The current guideline value of Siva Pooshnam Nagar Third Street is Rs 3,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,700 per sq.ft in 2024, representing a 6% increase. It was Rs 2,345 per sq.ft in 2017, showing a significant increase of 49% by 2023.

What is the land classification for Siva Pooshnam Nagar Third Street?

Siva Pooshnam Nagar Third Street is classified as Commercial Class I Type - I. This classification can influence the types of developments permitted in the area.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Vengaivasal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 37,00,000, the stamp duty at 7% would be Rs 2,59,000.