Guideline Value for SIVAPOOTHA MEDU

Sivapootha Medu guideline value

The current guideline value of Sivapootha Medu is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Sivabootham village and falls under the Chennai South Joint I SRO. The land classification is Residential Class I Type - I.

How the guideline value of Sivapootha Medu has changed

The guideline value for Sivapootha Medu has undergone several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, the value saw a significant increase to Rs 1,500 per sq.ft in 2023, followed by another rise to Rs 1,650 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sivabootham

Sivabootham village features a range of guideline values across its 39 streets under the Chennai South Joint I SRO, with values ranging from Rs 1,120 to Rs 3,300 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, placing Sivapootha Medu's current value at this median level.

• Sivapootham 1st Street: Rs 1,650 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,210 per sq.ft (2024)
• Sarangapani Street/ Salai: Rs 2,750 per sq.ft (2024)
• Teacher Colony: Rs 1,430 per sq.ft (2024)
• Teacher Colony 1st Cross Street: Rs 1,430 per sq.ft (2024)
• Teacher Colony 2nd Cross Street: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Sivapootha Medu

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty, charged at 7%, would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for these fees would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivapootha Medu?

Sivapootha Medu 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 details.

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

The guideline value is a critical factor during the registration of property transactions in Sivabootham. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Sivapootha Medu?

The current guideline value of Sivapootha Medu is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Sivapootha Medu?

The land classification of Sivapootha Medu is Residential Class I Type - I.

Which Sub Registrar Office covers Sivapootha Medu?

The Chennai South Joint I Sub Registrar Office covers Sivapootha Medu, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Sivapootha Medu?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.