Guideline Value for SIVA SAKTHI VINAYAGAR KOIL STREET

Siva Sakthi Vinayagar Koil Street guideline value

The current guideline value of Siva Sakthi Vinayagar Koil Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Siva Sakthi Vinayagar Koil Street has changed

Over the years, the guideline value of Siva Sakthi Vinayagar Koil Street has seen significant changes. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 3,000 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 3,200 per sq.ft, reflecting a 7% increase from the previous year. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, and the overall change from 2007 to 2024 is an impressive 433%. These revisions highlight the fluctuations and adjustments in the guideline value over the years.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Siva Sakthi Vinayagar Koil Street's 2024 figure is above that median.

• Slum Clearance Board Quarters: Rs 2,200 per sq.ft (2024)
• Somasundaram Nagar 1st Street: Rs 3,200 per sq.ft (2024)
• Somasundaram Nagar 2nd Street: Rs 3,200 per sq.ft (2024)
• Somasundaram Nagar Main Road: Rs 3,200 per sq.ft (2024)
• Somasundara Nagar: Rs 3,200 per sq.ft (2024)
• Sivagami Ammaiyar Colony All Streets: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Sakthi Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value would be Rs 32,00,000. The stamp duty at 7% would amount to Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total fees to Rs 2,88,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Siva Sakthi Vinayagar Koil Street?

The Sub Registrar Office that covers Siva Sakthi Vinayagar Koil Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is officially documented at a fair value.

When a property is sold, the buyer and seller must adhere to the guideline value set by the Registration Department. This value helps in determining the legal obligations regarding taxes and fees associated with property transactions.

Frequently asked questions

What is the current guideline value of Siva Sakthi Vinayagar Koil Street?

The current guideline value of Siva Sakthi Vinayagar Koil Street is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 600 per sq.ft in 2007 to Rs 3,200 per sq.ft in 2024, an overall increase of 433%.

What are the other streets in Perambur with similar guideline values?

Other streets in Perambur with a guideline value of Rs 3,200 per sq.ft include Somasundaram Nagar 1st Street, Somasundaram Nagar 2nd Street, Somasundaram Nagar Main Road, Somasundara Nagar, and Sivagami Ammaiyar Colony All Streets.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated on property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 32,00,000 would incur a stamp duty of Rs 2,24,000 at the current rate of 7%.