Guideline Value for SIVAGAMI NAGAR

Sivagami Nagar guideline value

The current guideline value of Sivagami Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO, classified as Residential Class I Type - III.

How the guideline value of Sivagami Nagar has changed

The guideline value for Sivagami Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 163 per sq.ft, which increased to Rs 375 per sq.ft in 2007. This was a substantial rise of 130%. The value then surged dramatically to Rs 2,500 per sq.ft in 2012, marking a 567% increase. However, it dropped to Rs 1,675 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,700 per sq.ft, an increase of 8% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1556%. The register has no figure for this street in 2003.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with 2024 guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Sivagami Nagar's 2024 figure above this median.

• Sivalingapuram: Rs 2,100 per sq.ft (2024)
• Sivalingapuram Vivenkananda St: Rs 2,100 per sq.ft (2024)
• Sivananda Colony: Rs 2,500 per sq.ft (2024)
• Sivanarayan Nagar: Rs 1,600 per sq.ft (2024)
• SIVASAKTHI NAGAR 1st STREET: Rs 2,900 per sq.ft (2024)
• SIVASAKTHI NAGAR 2nd STREET: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sivagami Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 details.

Which Sub Registrar Office covers Sivagami Nagar?

The Sub Registrar Office that covers Sivagami Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Korattur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Sivagami Nagar?

The current guideline value of Sivagami Nagar is Rs 2,700 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 163 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 1556% over this period.

What is the land classification for Sivagami Nagar?

Sivagami Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Sivagami Nagar?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations in Sivagami Nagar?

The Villivakkam Sub Registrar Office handles property registrations for Sivagami Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.