Guideline Value for SIVAN KOIL SOUTH MADA STREET

Sivan Koil South Mada Street guideline value

The current guideline value of Sivan Koil South 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, classified as Residential Class IV Type - II.

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

The guideline value for Sivan Koil South Mada Street has seen several revisions over the years. In 2002, the value was Rs 617 per sq.ft, which increased to Rs 705 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 950 per sq.ft in 2007, reflecting a 35% increase. By 2012, the value had reached Rs 3,000 per sq.ft, showing a substantial increase of 216% from the previous revision. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, which is a decline of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, a 49% rise, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision, which is a 10% increase.

There are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO with 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. Sivan Koil South Mada Street's 2024 guideline value is below this median.

• Sivan Koil South Mada Street Lane: Rs 2,700 per sq.ft (2024)
• Sivan Koil North Mada Street: Rs 3,300 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 South 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, totaling 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 the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Sivan Koil South Mada Street?

The Sivan Koil South Mada Street falls under 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 Villivakkam

The guideline value is a crucial factor during property transactions in Villivakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value serves as a reference point to ensure that the transaction is registered at a fair value, which is essential for both buyers and sellers.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Sivan Koil South 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 the years.

What is the median guideline value in Villivakkam?

The median guideline value in Villivakkam for 2024 is Rs 4,900 per sq.ft, with Sivan Koil South Mada Street's value being below this median.

What are the stamp duty rates for properties in Sivan Koil South Mada Street?

The stamp duty rate for properties is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sivan Koil South Mada Street?

The Sub Registrar Office for Sivan Koil South Mada Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more information by visiting the appropriate link.