Guideline Value for SIVAKUMAR NAGAR

Sivakumar Nagar guideline value

The current guideline value of Sivakumar Nagar is Rs 485 per sq.ft, effective from 1 July 2024. This locality is situated in Vichoor village and falls under the Thiruvottiyur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sivakumar Nagar has changed

The guideline value for Sivakumar Nagar has experienced several revisions over the years. The earliest recorded figure is from 2002, which was Rs 49 per sq.ft. This value increased significantly to Rs 100 per sq.ft in 2007, marking a 104% rise. Following that, the value saw a substantial increase to Rs 440 per sq.ft in 2012, which was a 340% increase from the previous revision. However, in 2017, the value dropped to Rs 295 per sq.ft, reflecting a decrease of 33%.

In the subsequent revisions, the guideline value rose to Rs 441 per sq.ft in 2023, indicating a 49% increase. The most recent revision in 2024 set the value at Rs 485 per sq.ft, which is a 10% increase from the previous year. It is important to note that there is no figure recorded for this street in the 2003 revision.

Guideline values in Vichoor

In Vichoor, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft. The median value for these streets is Rs 485 per sq.ft, which is the same as the guideline value for Sivakumar Nagar. Below are the guideline values for other streets in Vichoor:

• Sidco Nagar: Rs 550 per sq.ft (2024)
• Sri Devi Nagar: Rs 485 per sq.ft (2024)
• Selvam Avenu: Rs 330 per sq.ft (2024)
• Sri Mahalashmi Nagar: Rs 485 per sq.ft (2024)
• Sri Mugambigai Nagar: Rs 485 per sq.ft (2024)
• Srinivasa Nagar: Rs 485 per sq.ft (2024)

Stamp duty and registration fee for property in Sivakumar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 485 per sq.ft, the total guideline value would be Rs 4,85,000. The stamp duty, calculated at 7%, would amount to Rs 33,950, while the registration fee at 2% would be Rs 9,700. Together, the total fees would be Rs 43,650. It is important 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 further assistance.

Which Sub Registrar Office covers Sivakumar Nagar?

The Sub Registrar Office that covers Sivakumar Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Vichoor, as it determines the minimum value at which a property can be registered. This value is essential for calculating the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, which helps in maintaining transparency in property dealings. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Sivakumar Nagar?

The current guideline value of Sivakumar Nagar is Rs 485 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 49 per sq.ft in 2002 to Rs 485 per sq.ft in 2024, reflecting an overall increase of 890% over the years.

What are the other streets in Vichoor with similar guideline values?

Other streets in Vichoor with similar guideline values include Sri Devi Nagar, Sri Mahalashmi Nagar, Sri Mugambigai Nagar, and Srinivasa Nagar, all at Rs 485 per sq.ft in 2024.

How is stamp duty calculated for properties in Sivakumar Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 485 per sq.ft incurs a stamp duty of Rs 33,950.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find more information by visiting the relevant link.