Guideline Value for SIVA SANKAR NAGAR

Siva Sankar Nagar guideline value

The current guideline value of Siva Sankar Nagar, located in Koladi village, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - III.

How the guideline value of Siva Sankar Nagar has changed

Over the years, the guideline value of Siva Sankar Nagar has seen several revisions. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 140% rise. However, it then decreased to Rs 402 per sq.ft in 2017, representing a 33% decline. The value rose again to Rs 600 per sq.ft in 2023, and most recently, it increased by 10% to reach Rs 660 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 164%. There are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Siva Sankar Nagar is below this median.

• Sivasankar Nagar Road: Rs 660 per sq.ft (2024)
• Sivasakthi Vinayagar Street: Rs 880 per sq.ft (2024)
• Sivan Koil Street: Rs 660 per sq.ft (2024)
• Shri Sivasakthi Vinayagar Nagar: Rs 1,100 per sq.ft (2024)
• Shri Karumari Nagar: Rs 1,100 per sq.ft (2024)
• Shri Devi Karumari Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Sankar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total fees Rs 59,400. Please 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 Sankar Nagar?

The Siva Sankar Nagar area is covered by the Chennai South Joint II 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 Koladi

The guideline value plays a crucial role when buying or selling property in Koladi. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

When registering a property, the guideline value ensures that the transaction is documented accurately and reflects the current market conditions. This helps in maintaining transparency in property transactions and ensures that all legal requirements are met.

Frequently asked questions

What is the current guideline value of Siva Sankar Nagar?

The current guideline value of Siva Sankar Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, marking an overall increase of 164% over the years.

What land classification does Siva Sankar Nagar fall under?

Siva Sankar Nagar is classified as Residential Class II Type - III.

Where is the Sub Registrar Office for Siva Sankar Nagar located?

The Sub Registrar Office covering Siva Sankar Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How are stamp duty and registration fees calculated for properties in Siva Sankar Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 59,400 based on the current guideline value.