Guideline Value for SIVAN KOIL WEST MADA STREET

Sivan Koil West Mada Street guideline value

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

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

The guideline value for Sivan Koil West Mada Street has undergone several revisions over the years. Starting from Rs 617 per sq.ft in 2002, it increased to Rs 705 per sq.ft in 2003, marking a 14% rise. By 2007, the value saw a significant jump to Rs 950 per sq.ft, which is a 35% increase from the previous revision. The value then rose dramatically to Rs 3,000 per sq.ft in 2012, reflecting a 216% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, which was a 33% decline. The value then increased to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, representing 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 any other years in the register for this street.

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. The median value for these streets is Rs 4,900 per sq.ft, placing Sivan Koil West Mada Street's 2024 figure below this median.

• Sivankoil Street: Rs 3,300 per sq.ft (2024)
• Sivan Koil South Mada Street Lane: Rs 2,700 per sq.ft (2024)
• Sivan Koil South Mada Street: Rs 3,300 per sq.ft (2024)
• Sivan Koil North 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 West Mada Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, resulting in a total of Rs 2,97,000. 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 Sivan Koil West Mada Street?

The Sub Registrar Office that covers Sivan Koil West Mada Street 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 Villivakkam

The guideline value is a crucial factor in property transactions in Villivakkam. It serves as a reference point for determining the stamp duty and registration fees applicable during the registration of a property sale. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the transaction process.

When a property is bought or sold, the guideline value is used to calculate the applicable taxes and fees. This ensures that both parties are aware of their financial obligations and helps in maintaining transparency in the property transaction process.

Frequently asked questions

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

The current guideline value of Sivan Koil West 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 land classification for Sivan Koil West Mada Street?

Sivan Koil West Mada Street is classified as Residential Class IV Type - II.

What is the registration office for Sivan Koil West Mada Street?

The registration office for Sivan Koil West Mada Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Sivan Koil West Mada Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.