Guideline Value for SIVALINGAPURAM

Sivalingapuram guideline value

The current guideline value of Sivalingapuram is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sivalingapuram has changed

The guideline value of Sivalingapuram has undergone several revisions over the years. In 2002, the guideline value was Rs 115 per sq.ft, which increased significantly to Rs 375 per sq.ft in 2007, marking a change of +226%. The value then surged to Rs 2,000 per sq.ft in 2012, a remarkable increase of +433%. However, it saw a decrease of -33% to Rs 1,340 per sq.ft in 2017. The value rose again to Rs 2,000 per sq.ft in 2023, and most recently, it has reached Rs 2,100 per sq.ft in 2024, reflecting a +5% change from the previous year.

It is important to note that there is no figure available for the year 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +1726%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, indicating that Sivalingapuram's current figure is below this median.

• Sivalingapuram Vivenkananda St: Rs 2,100 per sq.ft (2024)
• Sivananda Colony: Rs 2,500 per sq.ft (2024)
• Sivanarayan Nagar: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar: Rs 2,700 per sq.ft (2024)
• SIVASAKTHI NAGAR 1st STREET: Rs 2,900 per sq.ft (2024)
• SIVASAKTHI NAGAR 2nd STREET: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sivalingapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total cost to Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sivalingapuram?

The Sub Registrar Office that covers Sivalingapuram is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the registration office will assess the guideline value to ensure that the appropriate fees are collected. This ensures transparency and compliance with local regulations regarding property transactions.

Frequently asked questions

What is the current guideline value of Sivalingapuram?

The current guideline value of Sivalingapuram is Rs 2,100 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 115 per sq.ft in 2002 to Rs 2,100 per sq.ft in 2024, reflecting an overall increase of +1726% over this period.

What is the land classification for Sivalingapuram?

Sivalingapuram is classified as Residential Class III Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Sivalingapuram?

The Villivakkam Sub Registrar Office covers Sivalingapuram, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 21,00,000, the stamp duty would be Rs 1,47,000 at a rate of 7%.