Guideline Value for SIVAGAMI AMMAIYAR COLONY 7TH CROSS STREET

Sivagami Ammaiyar Colony 7th Cross Street guideline value

The current guideline value of Sivagami Ammaiyar Colony 7th Cross 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 Sivagami Ammaiyar Colony 7th Cross Street has changed

The guideline value for Sivagami Ammaiyar Colony 7th Cross Street has seen significant changes over the years. In the 2007 revision, the value was Rs 550 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017, before rising again to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 3,200 per sq.ft, marking a 7% increase from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 482%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Perambur

In Perambur, the guideline values vary significantly, with a range from Rs 1,600 to Rs 7,100 per sq.ft as per the 2024 revision. The median guideline value for the area is Rs 2,700 per sq.ft, indicating that Sivagami Ammaiyar Colony 7th Cross Street's current value is above this median.

• Sivagami Ammaiyar Colony 6th Street: Rs 3,200 per sq.ft (2024)
• Sivagami Ammaiyar Colony 7th Street: Rs 3,200 per sq.ft (2024)
• Sivagami Ammaiyar Colony 6th Cross Street: Rs 3,200 per sq.ft (2024)
• Sivagami Ammaiyar Colony 8th 1st Cross Street: Rs 3,200 per sq.ft (2024)
• Sivagami Ammaiyar Colony 5th Street: Rs 3,200 per sq.ft (2024)
• Sivagami Ammaiyar Colony 8th Cross Street: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sivagami Ammaiyar Colony 7th Cross 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, totaling Rs 2,88,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sivagami Ammaiyar Colony 7th Cross Street?

The Sub Registrar Office that covers Sivagami Ammaiyar Colony 7th Cross 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 when registering a property in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sivagami Ammaiyar Colony 7th Cross Street?

The current guideline value of Sivagami Ammaiyar Colony 7th Cross Street is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 550 per sq.ft to Rs 3,200 per sq.ft in 2024. The most notable changes occurred between 2007 to 2012 and 2017 to 2023.

What is the land classification for this street?

Sivagami Ammaiyar Colony 7th Cross Street is classified as Residential Class III Type - I, which influences its guideline value.

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

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it covers the Sivagami Ammaiyar Colony 7th Cross Street.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value incurs a total stamp duty and registration fee of Rs 2,88,000.