Guideline Value for SIVAKAMIPURAM MAIN ROAD

Sivakamipuram Main Road guideline value

The current guideline value of Sivakamipuram Main Road is Rs 11,000 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for Sivakamipuram Main Road has undergone 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 an increase of 11%. The value then rose significantly to Rs 2,200 per sq.ft in 2007, reflecting a growth of 27%. By 2012, the value had jumped to Rs 10,000 per sq.ft, a substantial increase of 355%. However, it decreased to Rs 6,700 per sq.ft in 2017, showing a decline of 33%. The value then rose again to Rs 10,000 per sq.ft in 2023, followed by the current rate of Rs 11,000 per sq.ft in 2024, which represents a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 604%. There are no other revisions with figures for this street in the register.

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, with a median value of Rs 9,900 per sq.ft. The guideline value of Sivakamipuram Main Road is above this median.

• Sivakamipuram 2nd Cross Street: Rs 9,900 per sq.ft (2024)
• Sivakamipuram 1st Cross Street: 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty is charged at 7%, which totals Rs 7,70,000, while the registration fee is 2%, amounting to Rs 2,20,000. Together, the total cost for these fees would be Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivakamipuram Main Road?

The Sub Registrar Office that covers Sivakamipuram Main Road 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 further assistance.

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

The guideline value is an essential factor in the registration process of property transactions in Thiruvanmiyur. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects a fair valuation according to the government standards.

When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the sale price, making it crucial to understand how these values are assessed.

Frequently asked questions

What is the current guideline value of Sivakamipuram Main Road?

The current guideline value of Sivakamipuram Main Road 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 the years.

What is the land classification for Sivakamipuram Main Road?

The land classification for Sivakamipuram Main Road is Residential Special Type - II, indicating its designated use for residential purposes.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, on a 1,000 sq.ft plot valued at Rs 11,000 per sq.ft, the total fees would amount to Rs 9,90,000.

Where can I find the Sub Registrar Office for Sivakamipuram Main Road?

The Sub Registrar Office for Sivakamipuram Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more details online.