Guideline Value for SIVAGNANAM ST

Sivagnanam St guideline value

The current guideline value of Sivagnanam St is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sivagnanam St has changed

The guideline value of Sivagnanam St has undergone several revisions over the years. In 2002, the guideline value was Rs 1,943 per sq.ft, which increased to Rs 2,157 per sq.ft in 2003, marking an 11% rise. The value then saw a significant increase to Rs 3,000 per sq.ft in 2007, reflecting a 39% change. By 2012, the value was Rs 7,500 per sq.ft, which was a 150% increase from the previous revision. However, it then decreased to Rs 5,025 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 7,500 per sq.ft, which was a 49% increase. The most recent revision in 2024 set the value at Rs 8,300 per sq.ft, an 11% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 327%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. The guideline value of Sivagnanam St is below this median.

• Singaravelu Street: Rs 11,000 per sq.ft (2024)
• Sivaprakasam Street: Rs 8,300 per sq.ft (2024)
• Singaram Street: Rs 8,300 per sq.ft (2024)
• Sivasailam Street: Rs 14,300 per sq.ft (2024)
• Siddhi Vinayagar Koil Street: Rs 6,600 per sq.ft (2024)
• Solaiappan Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sivagnanam St

For a 1,000 sq.ft plot at the current rate of Rs 8,300 per sq.ft, the guideline value amounts to Rs 83,00,000. The stamp duty at 7% would be Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, totaling Rs 7,47,000. 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 Sivagnanam St?

The Sub Registrar Office that covers Sivagnanam St is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sivagnanam St?

The current guideline value of Sivagnanam St is Rs 8,300 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 1,943 per sq.ft in 2002 to Rs 8,300 per sq.ft in 2024, marking an overall increase of 327%.

What are the stamp duty and registration fees for property in Sivagnanam St?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 7,47,000.

Which office handles property registrations for Sivagnanam St?

The Thiyagaraya nagar Sub Registrar Office handles property registrations for Sivagnanam St, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared with the sale price, and the higher value is used for calculating the applicable fees.