Guideline Value for SIVANANTHAPURAM STREET

Sivananthapuram Street guideline value

The current guideline value of Sivananthapuram Street is Rs 5,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sivananthapuram Street has changed

The guideline value for Sivananthapuram Street has undergone several revisions over the years. In 2002, the value was Rs 432 per sq.ft, which increased to Rs 476 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,050 per sq.ft in 2007, and then it jumped to Rs 4,900 per sq.ft in 2012. However, there was a decrease to Rs 3,283 per sq.ft in 2017. The value then rose to Rs 4,900 per sq.ft in 2023, before reaching the current value of Rs 5,300 per sq.ft in 2024.

Between the revisions, the most notable changes include an increase of 8% from 2023 to 2024, a 49% increase from 2017 to 2023, and a significant 367% increase from 2007 to 2012. Overall, from 2002 to 2024, the guideline value has increased by 1127%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 6,000 per sq.ft, positioning Sivananthapuram Street's 2024 figure below that median.

• Sidco Salai - R - Block - M.M.D.A. Colony: Rs 6,900 per sq.ft (2024)
• Sidco Salai - Q - Block - M.M.D.A. Colony: Rs 6,900 per sq.ft (2024)
• Sidco Salai - P - Block - M.M.D.A. Colony: Rs 6,900 per sq.ft (2024)
• Sidco Salai - O - Block - M.M.D.A. Colony: Rs 6,900 per sq.ft (2024)
• Sidco Salai - N - Block - M.M.D.A. Colony: Rs 6,900 per sq.ft (2024)
• Sidco Salai - M- Block M.M.D.A. Colony: Rs 6,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sivananthapuram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value would be Rs 53,00,000. The stamp duty at 7% would amount to Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, bringing the total fees to Rs 4,77,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers Sivananthapuram Street?

The Sub Registrar Office that covers Sivananthapuram Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arumbakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivananthapuram Street?

The current guideline value of Sivananthapuram Street is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 432 per sq.ft in 2002 to Rs 5,300 per sq.ft in 2024, marking an overall increase of 1127% over this period.

What is the land classification of Sivananthapuram Street?

Sivananthapuram Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the other streets in Arumbakkam with their guideline values?

Other streets in Arumbakkam include Sidco Salai - R - Block, Sidco Salai - Q - Block, Sidco Salai - P - Block, Sidco Salai - O - Block, Sidco Salai - N - Block, and Sidco Salai - M- Block, all at Rs 6,900 per sq.ft for 2024.

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

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, which covers Sivananthapuram Street.