Guideline Value for SIVA POOSHNAM NAGAR

Siva Pooshnam Nagar guideline value

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

How the guideline value of Siva Pooshnam Nagar has changed

Over the years, the guideline value of Siva Pooshnam Nagar has seen several revisions. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 3,500 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 3,700 per sq.ft, marking a 6% rise from the previous year.

The register has no figures for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Vengaivasal

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

• Siva Pooshnam Nagar Third Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,700 per sq.ft, the total guideline value amounts to Rs 37,00,000. The stamp duty at 7% would be Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, bringing the total fees to Rs 3,33,000. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Siva Pooshnam Nagar?

The Sub Registrar Office that covers Siva Pooshnam Nagar is 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 in the registration process when buying or selling property in Vengaivasal. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties and fees. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Siva Pooshnam Nagar?

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

How has the guideline value changed over the years?

Since 2012, the guideline value has experienced fluctuations. It decreased from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally rose to Rs 3,700 per sq.ft in 2024.

What is the classification of land in Siva Pooshnam Nagar?

Siva Pooshnam Nagar is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

Where can I find the registration office for Siva Pooshnam Nagar?

The registration office for Siva Pooshnam Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for property transactions?

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