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Guideline Value

Corporate

Guideline Value for SIVAKAMI NAGAR EXTENTION

₹2750/sq.ft.

The guideline value for Sivakami Nagar Extention 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 ₹900 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹129 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹119 /sq.ft.
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 Extention

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Sivakami Nagar Extention guideline value

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

How the guideline value of Sivakami Nagar Extention has changed

The guideline value for Sivakami Nagar Extention has seen significant changes over the years. In 2002, the value was Rs 119 per sq.ft, which increased to Rs 129 per sq.ft in 2003, marking an 8% rise. Following this, there was a substantial increase of 598% to Rs 900 per sq.ft in 2007. The value then rose dramatically to Rs 2,500 per sq.ft in 2012, which was a 178% increase from the previous revision. However, it decreased by 33% to Rs 1,675 per sq.ft in 2017.

From 2017 to 2023, the guideline value increased by 49% to Rs 2,500 per sq.ft. The most recent revision in 2024 saw another increase of 10%, bringing the current guideline value to Rs 2,750 per sq.ft. The register has no figure for the years not mentioned in the revisions.

Guideline values in Medavakkam

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

Stamp duty and registration fee for property in Sivakami Nagar Extention

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be 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 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 further calculations.

Which Sub Registrar Office covers Sivakami Nagar Extention?

The Sivakami Nagar Extention 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 is a crucial factor when buying or selling property in Medavakkam, as it determines the minimum value at which properties can be registered. Buyers need to be aware that the guideline value is used to calculate the stamp duty and registration fees during the transaction process.

When a property is sold, the registration office will refer to the guideline value to ensure that the transaction is recorded accurately. This helps in maintaining transparency in property transactions and ensures that the correct fees are applied based on the established guideline value.

Frequently asked questions

What is the current guideline value for Sivakami Nagar Extention?

The current guideline value for Sivakami Nagar Extention 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 119 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 2211% over the years.

What is the stamp duty rate for properties in Sivakami Nagar Extention?

The stamp duty rate for properties in Sivakami Nagar Extention is 7% of the guideline value or the sale price, whichever is higher.

What is the registration fee for properties in Sivakami Nagar Extention?

The registration fee for properties in Sivakami Nagar Extention is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sivakami Nagar Extention?

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