Guideline Value for SIVAM NAGAR

Sivam Nagar guideline value

The current guideline value of Sivam Nagar, located in Thundalam village under the Chennai South Joint I SRO, is Rs 1,980 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Sivam Nagar has changed

The guideline value for Sivam Nagar has seen several revisions over the years. The earliest recorded value is from 2012, which was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in 2017. The value then increased significantly to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Between the revisions, the most notable changes occurred from 2017 to 2023, where there was a substantial increase of 49%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thundalam

In Thundalam, there are 97 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing Sivam Nagar's 2024 figure above this median.

• Sivan Nagar Thilagar Street: Rs 1,980 per sq.ft (2024)
• Senthamil Nagar: Rs 1,650 per sq.ft (2024)
• Sri Nainarswamy Garden Item-II: Rs 1,850 per sq.ft (2024)
• Sri Parasnath Jawahar Street: Rs 2,750 per sq.ft (2024)
• Sri Parasnath Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Sri Parasnath Nagar Samulal Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sivam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate estimates based on your specific property details.

Which Sub Registrar Office covers Sivam Nagar?

Sivam Nagar falls under the jurisdiction of 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 Thundalam

The guideline value plays a crucial role in property transactions in Thundalam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is set by the government and is updated periodically to reflect changes in the real estate market.

When a property is registered, the guideline value is considered to ensure that the transaction is transparent and fair. Buyers should be aware that the stamp duty is calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivam Nagar?

The current guideline value of Sivam Nagar is Rs 1,980 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the median guideline value in Thundalam?

The median guideline value in Thundalam is Rs 1,870 per sq.ft, with Sivam Nagar's 2024 figure of Rs 1,980 per sq.ft being above this median.

What are the stamp duty and registration fees for property in Sivam Nagar?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Sivam Nagar?

The Chennai South Joint I Sub Registrar Office handles registrations for Sivam Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.