Guideline Value for SIVAN KOVIL MADAVEETHI

Sivan Kovil Madaveethi guideline value

The current guideline value of Sivan Kovil Madaveethi is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Chinnakavanam village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Sivan Kovil Madaveethi has changed

The guideline value for Sivan Kovil Madaveethi has seen several revisions over the years. The most recent revisions are from 2023 and 2024, both set at Rs 300 per sq.ft, indicating no change between these years. The previous revision in 2017 was Rs 134 per sq.ft, marking a significant increase of 124% to the 2023 figure. Before that, the 2012 revision set the value at Rs 200 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 50%.

The register has no figures for the years 2002, 2003, and 2007 for this street. The 2012 revision was Rs 200 per sq.ft, which then rose to Rs 134 per sq.ft in 2017. The current guideline value of Rs 300 per sq.ft reflects a stable position since 2023.

Guideline values in Chinnakavanam

In Chinnakavanam, there are 28 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 400 per sq.ft. The median value is Rs 300 per sq.ft, which is equal to the 2024 figure for Sivan Kovil Madaveethi.

• Sivan Kovil Street: Rs 300 per sq.ft (2024)
• Singara Mudali Street: Rs 300 per sq.ft (2024)
• Sri Kari Krishna Perumal Nagar: Rs 300 per sq.ft (2024)
• Sri Sai Aanand Garden: Rs 300 per sq.ft (2024)
• Sudukadu Chellum Pathai: Rs 300 per sq.ft (2024)
• Sundar Raja Mudali Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivan Kovil Madaveethi

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, leading to a total of Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sivan Kovil Madaveethi?

The Sivan Kovil Madaveethi is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

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

The guideline value plays a crucial role during property transactions in Chinnakavanam. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning for their property transactions.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded at a fair value. The registration process will require the payment of stamp duty based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sivan Kovil Madaveethi?

The current guideline value of Sivan Kovil Madaveethi is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, and then to Rs 300 per sq.ft in both 2023 and 2024.

What is the land classification for Sivan Kovil Madaveethi?

Sivan Kovil Madaveethi is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles all registrations for properties in the area.

How is stamp duty calculated for properties in Sivan Kovil Madaveethi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 3,00,000, the stamp duty at 7% would be Rs 21,000.