Guideline Value for SIVAKALAI NAGAR PHASE-I

Sivakalai Nagar Phase-I guideline value

The current guideline value of Sivakalai Nagar Phase-I is Rs 101 per sq.ft, effective from 1 July 2024. This locality is situated in Thandalam village, under the Madurandakam SRO, and is classified as Residential Special Type - I.

How the guideline value of Sivakalai Nagar Phase-I has changed

Over the years, the guideline value of Sivakalai Nagar Phase-I has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 67 per sq.ft. The value then increased significantly to Rs 100 per sq.ft in 2023, and currently stands at Rs 101 per sq.ft as of the 2024 revision. Notably, the register has no figure for this street in the years 2002, 2003, and 2007.

Examining the changes between revisions, from 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 reflects a slight increase of 1%.

Guideline values in Thandalam

In Thandalam, there are nine streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 101 to Rs 200 per sq.ft, with a median value of Rs 104 per sq.ft. Sivakalai Nagar Phase-I's 2024 figure is below this median.

• Selva Vinayagar Nagar: Rs 101 per sq.ft (2024)
• Sekar Avenue Phase-II: Rs 101 per sq.ft (2024)
• Sri Iyyappan Nagar: Rs 200 per sq.ft (2024)
• J P Avenue: Rs 200 per sq.ft (2024)
• Cs Gateway: Rs 104 per sq.ft (2024)
• Bharatham Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sivakalai Nagar Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total fees to Rs 9,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivakalai Nagar Phase-I?

The Sub Registrar Office that covers Sivakalai Nagar Phase-I is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Thandalam. It serves as the basis for calculating stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at an official value, which helps maintain transparency and accountability in property dealings. This value is essential for both the buyer and the seller during the registration process.

Frequently asked questions

What is the current guideline value of Sivakalai Nagar Phase-I?

The current guideline value of Sivakalai Nagar Phase-I is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023, and is currently Rs 101 per sq.ft in 2024.

What is the land classification of Sivakalai Nagar Phase-I?

Sivakalai Nagar Phase-I is classified as Residential Special Type - I.

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

Stamp duty is charged at 7%, while the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Sivakalai Nagar Phase-I located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.