Guideline Value for SIVAN NAGAR

Sivan Nagar guideline value

The current guideline value of Sivan Nagar, located in Padappai village under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sivan Nagar has changed

The guideline value for Sivan Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision. The latest revision in 2024 has further increased this value to Rs 1,320 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, illustrating the upward trajectory in the guideline value during that period.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO, with the 2024 guideline values ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, positioning Sivan Nagar's 2024 figure above this median.

• Sivasakthi Nagar: Rs 660 per sq.ft (2024)
• Sirumathur Road: Rs 1,320 per sq.ft (2024)
• S.K.Avenue: Rs 830 per sq.ft (2024)
• S K Avenue S.No 426/2b, 426/2b1, 426/2b1b, 426/2b1a1c: Rs 3,300 per sq.ft (2024)
• Spn Avenue: Rs 3,300 per sq.ft (2024)
• Sri Balaji Nagar: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Sivan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, calculated at 7%, would be Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, these fees total Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivan Nagar?

Sivan Nagar falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Padappai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property, which is essential for both buyers and sellers. It also aids in ensuring transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sivan Nagar?

The current guideline value of Sivan Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 64%, from Rs 804 per sq.ft to Rs 1,320 per sq.ft in 2024.

What were the guideline values in previous revisions?

The guideline values for Sivan Nagar were Rs 804 per sq.ft in 2017, Rs 1,200 per sq.ft in 2023, and Rs 1,320 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2012.

What is the land classification for Sivan Nagar?

Sivan Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.