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Guideline Value

Corporate

Guideline Value for SIVAKAMI NAGAR 1ST STREET

₹2750/sq.ft.

The guideline value for Sivakami Nagar 1st Street in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sivakami Nagar 1st Street

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Sivakami Nagar 1st Street guideline value

The current guideline value of Sivakami Nagar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Sivakami Nagar 1st Street has changed

Over the years, the guideline value of Sivakami Nagar 1st Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 2,500 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO with a guideline value for 2024 ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, making the current value for Sivakami Nagar 1st Street above that median.

Stamp duty and registration fee for property in Sivakami Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that 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 details.

Which Sub Registrar Office covers Sivakami Nagar 1st Street?

The Sivakami Nagar 1st Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sivakami Nagar 1st Street?

The current guideline value of Sivakami Nagar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, which is a 10% increase. From 2017 to 2023, it increased by 49% from Rs 1,675 per sq.ft to Rs 2,500 per sq.ft.

What is the land classification for Sivakami Nagar 1st Street?

The land classification for Sivakami Nagar 1st Street is Commercial Class I Type - III. This classification indicates the type of commercial activities that can be conducted in this area.

What is the registration office for Sivakami Nagar 1st Street?

The registration office for Sivakami Nagar 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Sivakami Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 27,50,000, the stamp duty would be calculated at 7% of that amount.