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Guideline Value

Corporate

Guideline Value for SIVAKAMI NAGAR 5TH STREET

₹2750/sq.ft.

The guideline value for Sivakami Nagar 5th 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 5th Street

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Sivakami Nagar 5th Street guideline value

The current guideline value for Sivakami Nagar 5th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village, under the Chennai South Joint I SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Sivakami Nagar 5th Street has changed

Over the years, the guideline value of Sivakami Nagar 5th Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value rose significantly to Rs 2,500 per sq.ft in 2023, and most recently, it has increased to Rs 2,750 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from the 2012 revision to the 2024 revision shows a slight increase of 10%. It is important to note that there are no figures available for the revisions in 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 guideline value for 2024, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the guideline value of Sivakami Nagar 5th Street above this median.

Stamp duty and registration fee for property in Sivakami Nagar 5th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. The total cost for these fees would be Rs 2,47,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sivakami Nagar 5th Street?

The Sivakami Nagar 5th 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 details.

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

When buying or selling property in Medavakkam, the guideline value is a critical factor used during the registration process. It determines the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in accordance with government regulations.

The guideline value serves as a benchmark for property transactions, helping to establish a fair price for both buyers and sellers. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Sivakami Nagar 5th Street?

The current guideline value of Sivakami Nagar 5th 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 to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Sivakami Nagar 5th Street?

Sivakami Nagar 5th Street is classified as Commercial Class I Type - III.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Sivakami Nagar 5th Street?

The Chennai South Joint I Sub Registrar Office is responsible for handling registrations for Sivakami Nagar 5th Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.