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Guideline Value

Corporate

Guideline Value for SIVAKAMI NAGAR 2ND STREET

₹2750/sq.ft.

The guideline value for Sivakami Nagar 2nd 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 2nd Street

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Sivakami Nagar 2nd Street guideline value

The current guideline value of Sivakami Nagar 2nd 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 2nd Street has changed

The guideline value for Sivakami Nagar 2nd Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. However, from 2017 to 2023, it saw a significant increase to Rs 2,500 per sq.ft, followed by another increase to Rs 2,750 per sq.ft in 2024, marking a 10% rise from the previous year.

In summary, the revisions indicate a 49% increase from 2017 to 2023, a decrease of 33% from 2012 to 2017, and an overall increase of 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Sivakami Nagar 2nd Street's 2024 figure above that median.

Stamp duty and registration fee for property in Sivakami Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 27,50,000. The stamp duty at 7% amounts to Rs 1,92,500, and the registration fee at 2% is Rs 55,000, totaling Rs 2,47,500. 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 Sivakami Nagar 2nd Street?

The Sub Registrar Office that covers Sivakami Nagar 2nd 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. 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 when buying or selling property in Medavakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to determine the applicable duties. This ensures that all transactions are recorded accurately and fairly according to the established values in the region.

Frequently asked questions

What is the current guideline value of Sivakami Nagar 2nd Street?

The current guideline value of Sivakami Nagar 2nd 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 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the other streets in Medavakkam with similar guideline values?

Other streets in Medavakkam with a guideline value of Rs 2,750 per sq.ft include Sivakami Nagar 2nd Cross Street, Sivakami Nagar 3rd Main Road, Sivakami Nagar 1st Street, Sivakami Nagar 3rd Street, and Sivakami Nagar 4th Street.

What is the registration fee for property in Sivakami Nagar 2nd Street?

The registration fee for property in Sivakami Nagar 2nd Street is calculated based on the guideline value. For example, for a 1,000 sq.ft plot, the registration fee would be Rs 55,000 at a rate of 2%.

Where can I find the Sub Registrar Office for Sivakami Nagar 2nd Street?

The Sub Registrar Office for Sivakami Nagar 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.