Guideline Value for SIVAN STREET

Sivan Street guideline value

The current guideline value of Sivan Street in Vanagaram village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Sivan Street has changed

Over the years, the guideline value of Sivan Street has seen several revisions. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, which is an increase from Rs 1,200 per sq.ft in the 2023 revision, marking a change of +10%. Prior to that, the 2017 revision recorded a value of Rs 804 per sq.ft, which indicates a significant increase of +49% from 2017 to 2023. The 2012 revision also had a value of Rs 1,200 per sq.ft, showing a decrease of -33% when compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

It is important to note that the register has no figure for Sivan Street in the years 2002, 2003, and 2007. The 2012, 2017, 2023, and 2024 revisions are the only ones that provide specific values for this street.

Guideline values in Vanagaram

In Vanagaram village, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, which means Sivan Street's 2024 figure is below that median.

• Shri Ramasamy Nagar: Rs 1,320 per sq.ft (2024)
• Shri Lalitha Nagar: Rs 1,320 per sq.ft (2024)
• Shri Kamatchiamman Nagar: Rs 1,320 per sq.ft (2024)
• Shri Ganapathy Nagar Annex & Shri Ganapathy Nagar: Rs 1,100 per sq.ft (2024)
• Shri Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Shri Andal Nagar Annex: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Sivan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivan Street?

Sivan Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vanagaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions. Buyers must consider the guideline value when negotiating sale prices, as it directly impacts the stamp duty and registration fees payable.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This means that both buyers and sellers should be aware of the current guideline value to avoid any unexpected costs during the transaction.

Frequently asked questions

What is the current guideline value of Sivan Street?

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

How has the guideline value of Sivan Street changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, an increase of +10%. It was Rs 804 per sq.ft in 2017, showing a +49% increase from 2017 to 2023.

What are the guideline values of other streets in Vanagaram?

Other streets in Vanagaram have varying guideline values, with rates ranging from Rs 770 to Rs 5,500 per sq.ft. The median value is Rs 1,660 per sq.ft, while Sivan Street's value is below this median.

What fees are associated with buying property on Sivan Street?

When buying property on Sivan Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Sivan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.