Guideline Value for SIVAGAMI AMMAIYAR COLONY 7TH STREET

Sivagami Ammaiyar Colony 7th Street guideline value

The current guideline value of Sivagami Ammaiyar Colony 7th Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sivagami Ammaiyar Colony 7th Street has changed

The guideline value for Sivagami Ammaiyar Colony 7th Street has seen significant changes over the years. The earliest available revision is from 2003, with a guideline value of Rs 477 per sq.ft. This increased to Rs 550 per sq.ft in 2007, followed by a substantial rise to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017, before increasing again to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 3,200 per sq.ft.

From 2017 to 2023, there was a 49% increase, and from 2023 to 2024, the increase was 7%. Notably, the 2007 to 2012 revision saw a decrease of 33%, while the 2003 to 2007 period experienced a 15% increase. Overall, from 2003 to 2024, the guideline value has increased by 571%. The register has no figure for the year 2002 for this street.

Guideline values in Perambur

In Perambur, there are 1114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median of Rs 2,700 per sq.ft. The guideline value of Rs 3,200 per sq.ft for Sivagami Ammaiyar Colony 7th Street is above this median.

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

Stamp duty and registration fee for property in Sivagami Ammaiyar Colony 7th 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, bringing the total to Rs 2,88,000. It is important to note that 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 Sivagami Ammaiyar Colony 7th Street?

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

When buying or selling property, the guideline value helps to establish a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Sivagami Ammaiyar Colony 7th Street is Rs 3,200 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 477 per sq.ft in 2003 to Rs 3,200 per sq.ft in 2024, reflecting an overall increase of 571% over this period.

What is the land classification for this area?

The land classification for Sivagami Ammaiyar Colony 7th Street is Residential Class III Type - I.

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

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

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 32,00,000, the stamp duty would be Rs 2,24,000 at 7%.