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Guideline Value

Corporate

Guideline Value for SIVAKAMI NAGAR EXTN

₹2750/sq.ft.

The guideline value for Sivakami Nagar Extn 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 ₹656 /sq.ft.
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 Extn

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Sivakami Nagar Extn guideline value

The current guideline value of Sivakami Nagar Extn 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. The land classification for this street is Commercial Class I Type - III.

How the guideline value of Sivakami Nagar Extn has changed

The guideline value for Sivakami Nagar Extn has seen several revisions over the years. In 2007, the guideline value was Rs 656 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 281%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then increased again to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 319%.

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. The median guideline value for these streets is Rs 2,200 per sq.ft, making the current value of Sivakami Nagar Extn above the median.

Stamp duty and registration fee for property in Sivakami Nagar Extn

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. Together, the total cost for stamp duty and registration would be Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivakami Nagar Extn?

The Sub Registrar Office that covers Sivakami Nagar Extn 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 in the registration process when buying or selling property in Medavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives appropriate revenue through stamp duty and registration fees based on the guideline value.

When a property is sold, the buyer and seller must adhere to the guideline value during the registration process. This means that the sale price cannot be lower than the guideline value, ensuring transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Sivakami Nagar Extn?

The current guideline value of Sivakami Nagar Extn 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 656 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 319% over the years.

What is the land classification for Sivakami Nagar Extn?

The land classification for Sivakami Nagar Extn is Commercial Class I Type - III.

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

The Sub Registrar Office for Sivakami Nagar Extn 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 Extn?

Stamp duty for properties in Sivakami Nagar Extn is calculated at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2% of the guideline value.