Guideline Value for SIVANKOIL STREET

Sivankoil Street guideline value

The current guideline value of Sivankoil Street in Villivakkam village under the Villivakkam SRO is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class IV Type - II.

How the guideline value of Sivankoil Street has changed

The guideline value of Sivankoil Street has seen significant changes over the years. Starting from the 2002 revision, the guideline value was Rs 617 per sq.ft. It increased to Rs 705 per sq.ft in 2003, marking a 14% rise. By 2007, the value jumped to Rs 950 per sq.ft, reflecting a 35% increase. The 2012 revision saw a notable increase to Rs 3,000 per sq.ft, which was a 216% rise from the previous figure. However, this value dropped to Rs 2,010 per sq.ft in 2017, indicating a decrease of 33%. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the latest revision in 2024 set it at Rs 3,300 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 435%. There are no figures available for revisions in years other than those listed above.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft, with a median value of Rs 4,900 per sq.ft. Sivankoil Street's 2024 figure of Rs 3,300 per sq.ft is below this median.

• Sivan Koil West Mada Street: Rs 3,300 per sq.ft (2024)
• Sivan Koil South Mada Street Lane: Rs 2,700 per sq.ft (2024)
• Sivan Koil South Mada Street: Rs 3,300 per sq.ft (2024)
• Sivan Koil North Mada Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Colony: Rs 4,400 per sq.ft (2024)
• Sivasakthi Colony Cross Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sivankoil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivankoil Street?

The Sub Registrar Office that covers Sivankoil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is an essential factor in the registration of property transactions in Villivakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers should be aware that the guideline value can influence the overall cost of the transaction.

When a property is registered, the guideline value serves as a benchmark for the transaction, ensuring that the fees are calculated accurately. It is crucial for both parties to understand the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sivankoil Street?

The current guideline value of Sivankoil Street is Rs 3,300 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 617 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 435% over the years.

What is the land classification for Sivankoil Street?

Sivankoil Street is classified as Residential Class IV Type - II under the Villivakkam SRO.

How is stamp duty calculated for properties in Sivankoil Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.

Where is the Sub Registrar Office for Sivankoil Street located?

The Sub Registrar Office for Sivankoil Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.