Guideline Value for SIVA SHANMUGAM CROSS STREET

Siva Shanmugam Cross Street guideline value

The current guideline value of Siva Shanmugam Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village and falls under the Pallavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Siva Shanmugam Cross Street has changed

Over the years, the guideline value of Siva Shanmugam Cross Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision and further rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which matches the current value for Siva Shanmugam Cross Street.

• Sivasanmugam Street: Rs 2,160 per sq.ft (2024)
• Sivasankaran Street: Rs 4,400 per sq.ft (2024)
• Sivasakthi Avenue: Rs 2,750 per sq.ft (2024)
• Sivaraj Street: Rs 3,300 per sq.ft (2024)
• Solidam Workers Colony: Rs 3,300 per sq.ft (2024)
• Somasundaram Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Shanmugam Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Siva Shanmugam Cross Street?

The Siva Shanmugam Cross Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Zaminpallavaram. 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 acts as a benchmark for both buyers and sellers. It is essential to be aware of this value to avoid discrepancies during the registration process, as the duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Siva Shanmugam Cross Street?

The current guideline value of Siva Shanmugam Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Siva Shanmugam Cross Street?

The land classification for Siva Shanmugam Cross Street is Residential Class I Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Siva Shanmugam Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.