Guideline Value for SIVAKAMIPURAM 1ST CROSS STREET

Sivakamipuram 1st Cross Street guideline value

The current guideline value of Sivakamipuram 1st Cross Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Sivakamipuram 1st Cross Street has changed

The guideline value for Sivakamipuram 1st Cross Street has seen several revisions over the years. In 2002, the value was Rs 1,563 per sq.ft, which increased to Rs 1,729 per sq.ft in 2003, marking a change of +11%. The value then rose significantly to Rs 2,200 per sq.ft in 2007, an increase of +27%. Following this, the value surged to Rs 10,000 per sq.ft in 2012, reflecting a substantial change of +355%. However, in 2017, the value decreased to Rs 6,700 per sq.ft, showing a decline of -33%. The value then increased to Rs 10,000 per sq.ft in 2023, and most recently, it has risen to Rs 11,000 per sq.ft in 2024, which is a change of +10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +604%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value is Rs 9,900 per sq.ft, making the 2024 figure for Sivakamipuram 1st Cross Street above that median.

• Sivakamipuram 2nd Cross Street: Rs 9,900 per sq.ft (2024)
• Sivakamipuram Main Road: Rs 11,000 per sq.ft (2024)
• Sivasukku Road 4th Road: Rs 7,150 per sq.ft (2024)
• Sivasundar Avenue: Rs 11,000 per sq.ft (2024)
• Shri V.P. Ramapandia Raji Avenue: Rs 9,900 per sq.ft (2024)
• Shriram Nagar Main Road: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sivakamipuram 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000. Together, the total fees would be Rs 9,90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivakamipuram 1st Cross Street?

The Sub Registrar Office that covers Sivakamipuram 1st Cross 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 Thiruvanmiyur

The guideline value is an essential factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sivakamipuram 1st Cross Street?

The current guideline value of Sivakamipuram 1st Cross Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,563 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of +604% over this period.

What are the stamp duty rates for property in Sivakamipuram 1st Cross Street?

The stamp duty for property in Sivakamipuram 1st Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sivakamipuram 1st Cross Street located?

The Sub Registrar Office for Sivakamipuram 1st Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Sivakamipuram 1st Cross Street?

The land classification for Sivakamipuram 1st Cross Street is Residential Special Type - II.