Guideline Value for SIVA SRINIVASA NAGAR

Siva Srinivasa Nagar guideline value

The current guideline value of Siva Srinivasa Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Kizhnallathur & Melnallathur village, under the Manavalanagar SRO, and is classified as Residential Class I Type - II.

How the guideline value of Siva Srinivasa Nagar has changed

The guideline value for Siva Srinivasa Nagar has seen several revisions over the years. The earliest available figure is from 2012, which was Rs 250 per sq.ft. In 2017, the value decreased to Rs 167 per sq.ft, reflecting a drop of 33%. However, in the subsequent revisions, the value increased, with the 2023 figure returning to Rs 250 per sq.ft, and remaining unchanged in the 2024 revision.

From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 250 per sq.ft. Overall, from 2012 to 2024, the guideline value has remained at Rs 250 per sq.ft, indicating no change over this longer period. The register has no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO that carry a 2024 guideline value, ranging from Rs 175 to Rs 1,201 per sq.ft. The median value is Rs 250 per sq.ft, which is the same as the guideline value for Siva Srinivasa Nagar.

• Shanmugam Nagar: Rs 226 per sq.ft (2024)
• Srinivasa Nagar: Rs 200 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 226 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 226 per sq.ft (2024)
• Sri Vigneshwara Nagar: Rs 226 per sq.ft (2024)
• Sankarachariyar Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Srinivasa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total charges to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Siva Srinivasa Nagar?

The Sub Registrar Office that covers Siva Srinivasa Nagar is the Manavalanagar Sub Registrar Office. The address is Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find more information about your SRO by visiting find your SRO.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value plays a crucial role during the registration process when buying or selling property in Kizhnallathur & Melnallathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures that both parties comply with the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Siva Srinivasa Nagar?

The current guideline value of Siva Srinivasa Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 250 per sq.ft in 2024. It was Rs 167 per sq.ft in 2017 and returned to Rs 250 per sq.ft in 2023.

What is the land classification for Siva Srinivasa Nagar?

Siva Srinivasa Nagar is classified as Residential Class I Type - II. This classification is important for understanding the zoning and usage of the land.

What are the stamp duty and registration fees for property in Siva Srinivasa Nagar?

For a 1,000 sq.ft plot valued at Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500.

Which Sub Registrar Office covers Siva Srinivasa Nagar?

The Manavalanagar Sub Registrar Office covers Siva Srinivasa Nagar, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.