Guideline Value for SIVANARAYAN NAGAR

Sivanarayan Nagar guideline value

The current guideline value of Sivanarayan Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Korattur village under the Villivakkam SRO and is classified as Residential Class III Type - III.

How the guideline value of Sivanarayan Nagar has changed

Over the years, the guideline value of Sivanarayan Nagar has seen significant changes. In the 2007 revision, the value was Rs 250 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017. The 2023 revision saw a rise to Rs 1,500 per sq.ft, and the latest revision in 2024 has increased it further to Rs 1,600 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the guideline value has increased by 540%. The changes between the revisions include a 500% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, a 49% increase from 2017 to 2023, and a 7% increase from 2023 to 2024.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with 2024 guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, making the 2024 guideline value of Sivanarayan Nagar below this median.

• Sivananda Colony: Rs 2,500 per sq.ft (2024)
• Sivalingapuram Vivenkananda St: Rs 2,100 per sq.ft (2024)
• Sivalingapuram: Rs 2,100 per sq.ft (2024)
• Sivagami Nagar: Rs 2,700 per sq.ft (2024)
• SIVASAKTHI NAGAR 1st STREET: Rs 2,900 per sq.ft (2024)
• SIVASAKTHI NAGAR 2nd STREET: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sivanarayan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 details.

Which Sub Registrar Office covers Sivanarayan Nagar?

The Sub Registrar Office that covers Sivanarayan Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Korattur. It determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate tax revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivanarayan Nagar?

The current guideline value of Sivanarayan Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting a 540% increase over the years.

What is the land classification of Sivanarayan Nagar?

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

What are the stamp duty and registration fees for properties in Sivanarayan Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles property registrations for Sivanarayan Nagar?

The Villivakkam Sub Registrar Office handles property registrations for Sivanarayan Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.