Guideline Value for SIVA SUBRAMANIA NAGAR

Siva Subramania Nagar guideline value

The current guideline value of Siva Subramania Nagar, located in Puliyur village under the Kodambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - II.

How the guideline value of Siva Subramania Nagar has changed

The guideline value for Siva Subramania Nagar has undergone several revisions over the years. In 2002, the guideline value was set at Rs 511 per sq.ft. This increased significantly to Rs 561 per sq.ft in 2003, marking a 10% rise. The value saw a substantial jump to Rs 1,825 per sq.ft in 2007, which is a 225% increase. Following this, the value was revised to Rs 4,000 per sq.ft in 2012, reflecting a decrease of 119% from the previous revision. In 2017, the guideline value increased to Rs 2,680 per sq.ft, a 49% rise from 2012. The most recent revision in 2023 set the value at Rs 4,000 per sq.ft, leading to a 10% increase in 2024 when it reached the current value of Rs 4,400 per sq.ft.

Overall, from 2002 to 2024, the guideline value has increased by 761%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median of Rs 5,800 per sq.ft. The guideline value for Siva Subramania Nagar is below this median.

• Sornambigai Street: Rs 3,800 per sq.ft (2024)
• Sivan Koil West 2nd Street: Rs 5,800 per sq.ft (2024)
• Sivan Koil West 1st Street: Rs 5,800 per sq.ft (2024)
• Sivan Koil West 1st Cross Street: Rs 5,800 per sq.ft (2024)
• Sivan Koil Street: Rs 6,300 per sq.ft (2024)
• Sivan Koil South Street: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Subramania Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty charged at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to 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 information.

Which Sub Registrar Office covers Siva Subramania Nagar?

The Siva Subramania Nagar area falls under the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Puliyur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. It ensures that the government receives the appropriate revenue from property transactions.

At the time of registration, the higher value between the guideline value and the sale price is considered for calculating these fees, ensuring that both parties are fairly assessed based on the established values.

Frequently asked questions

What is the current guideline value of Siva Subramania Nagar?

The current guideline value of Siva Subramania Nagar is Rs 4,400 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 511 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 761% over this period.

What is the land classification for Siva Subramania Nagar?

Siva Subramania Nagar is classified as Residential Class IV Type - II, indicating its designation for residential use.

What are the stamp duty and registration fees for property transactions?

For a property valued at the current guideline value of Rs 4,400 per sq.ft, the stamp duty would be 7% and the registration fee would be 2% of the total guideline value.

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

The Kodambakkam Sub Registrar Office, which covers Siva Subramania Nagar, is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.