Guideline Value for SIVAN KOIL SOUTH STREET

Sivan Koil South Street guideline value

The current guideline value of Sivan Koil South Street is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Sivan Koil South Street has changed

The guideline value for Sivan Koil South Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 923 per sq.ft. It increased to Rs 1,014 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 1,400 per sq.ft in 2007, which was an increase of 38%. The 2012 revision saw a significant jump to Rs 5,300 per sq.ft, reflecting a 279% increase. However, the value decreased to Rs 3,551 per sq.ft in 2017, a decline of 33%. The guideline value was Rs 5,300 per sq.ft in 2023, before reaching the current figure of Rs 5,800 per sq.ft in 2024, which is a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 528%. There are no figures available for the revisions in years not listed for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value is Rs 5,800 per sq.ft, which is equal to the current figure for Sivan Koil South Street.

• Sivan Koil South 1st Street: Rs 5,800 per sq.ft (2024)
• Sivan Koil Cross Street: Rs 5,800 per sq.ft (2024)
• Sivan Koil 1st Street: Rs 5,800 per sq.ft (2024)
• Sivan Koil 1st Cross Street: Rs 5,800 per sq.ft (2024)
• Sivan Koil Street: Rs 6,300 per sq.ft (2024)
• Sivan Koil West 1st Cross Street: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sivan Koil South Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value would be Rs 58,00,000. The stamp duty at 7% would amount to Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total to Rs 5,22,000. 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 precise calculations.

Which Sub Registrar Office covers Sivan Koil South Street?

The Sub Registrar Office that covers Sivan Koil South Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must ensure that the sale price is at least equal to or higher than the guideline value to avoid any legal complications.

When registering a property, the guideline value helps in assessing the official value of the property for taxation purposes. This ensures that the government receives the appropriate fees based on the established rates for the area.

Frequently asked questions

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

The current guideline value of Sivan Koil South Street is Rs 5,800 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 923 per sq.ft in 2002 to Rs 5,800 per sq.ft in 2024, reflecting an overall increase of 528% over this period.

What is the land classification for Sivan Koil South Street?

Sivan Koil South Street is classified as Residential Class I Type - I, which indicates its intended use for residential purposes.

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

The Sub Registrar Office for Sivan Koil South Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties on Sivan Koil South Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 58,00,000 would incur a stamp duty of Rs 4,06,000 at 7%.