Guideline Value for SIVAN KOIL NORTH MADA STREET

Sivan Koil North Mada Street guideline value

The current guideline value of Sivan Koil North Mada Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and falls under the Residential Class IV Type - II land classification.

How the guideline value of Sivan Koil North Mada Street has changed

The guideline value of Sivan Koil North Mada Street has seen several revisions over the years. In 2002, the guideline value was Rs 617 per sq.ft. This figure increased to Rs 705 per sq.ft in 2003, marking a change of +14%. By 2007, the value rose significantly to Rs 950 per sq.ft, reflecting a +35% increase. The 2012 revision saw the value jump to Rs 3,000 per sq.ft, an increase of +216%. However, in 2017, the guideline value decreased to Rs 2,010 per sq.ft, which was a drop of -33%. The value then rose again to Rs 3,000 per sq.ft in 2023, followed by the latest revision in 2024, where it stands at Rs 3,300 per sq.ft, showing a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +435%. There are no figures available for the revisions in years other than those listed.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of Sivan Koil North Mada Street is below this median.

• Sivan Koil South Mada Street: Rs 3,300 per sq.ft (2024)
• Sivan Koil South Mada Street Lane: Rs 2,700 per sq.ft (2024)
• Sivankoil Street: Rs 3,300 per sq.ft (2024)
• Sivan Koil West Mada Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Colony: Rs 4,400 per sq.ft (2024)
• Sivasakthi Colony Cross Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sivan Koil North Mada Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sivan Koil North Mada Street?

The Sub Registrar Office that covers Sivan Koil North Mada Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Villivakkam. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers should be aware that the guideline value is considered the minimum value for property transactions, and the actual sale price cannot be lower than this value.

During the registration process, the guideline value helps ensure that the property is valued accurately for taxation purposes. This value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Sivan Koil North Mada Street?

The current guideline value of Sivan Koil North Mada Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 617 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +435% over this period.

What is the land classification for Sivan Koil North Mada Street?

Sivan Koil North Mada Street falls under the Residential Class IV Type - II land classification.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office located for Sivan Koil North Mada Street?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.