Guideline Value for SIVANANDAM STREET

Sivanandam Street guideline value

The current guideline value of Sivanandam Street in Nanmangalam village, under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Sivanandam Street has changed

The guideline value for Sivanandam Street has undergone several revisions over the years. The earliest recorded revision was in 2007, setting the value at Rs 600 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, but then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value rose to Rs 2,500 per sq.ft in 2023, and most recently, it has been revised to Rs 2,750 per sq.ft in 2024. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2007 to 2012, the guideline value increased by 317%, but then it saw a decrease of 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and from 2023 to 2024, it rose by 10%. Overall, from 2007 to 2024, the guideline value has increased by 358%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value among these streets is Rs 2,750 per sq.ft, making Sivanandam Street's 2024 figure equal to that median.

• Sither Kudiirupu (Pazhndi Amman Koil St.): Rs 1,960 per sq.ft (2024)
• Sidharth Nagar: Rs 1,980 per sq.ft (2024)
• Siddhanathar Nagar: Rs 2,750 per sq.ft (2024)
• Siddathatha Nagar 1 To 6 Streets: Rs 2,750 per sq.ft (2024)
• Sri Abinandhan Nagar: Rs 2,750 per sq.ft (2024)
• Senthil nagar: Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in Sivanandam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost together to Rs 2,47,500. 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 precise calculations.

Which Sub Registrar Office covers Sivanandam Street?

The Sub Registrar Office that covers Sivanandam Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is an essential factor in property transactions in Nanmangalam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on a standard valuation.

During the registration process, the buyer and seller must agree on the sale price, which cannot be lower than the guideline value. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value of Sivanandam Street?

The current guideline value of Sivanandam Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 358% over the years.

What is the land classification for Sivanandam Street?

Sivanandam Street is classified as Residential Class I Type - I.

Where is the Sub Registrar Office located for Sivanandam Street?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sivanandam Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,92,500.