Guideline Value for SIVAPOOTHAM 1ST STREET

Sivapootham 1st Street guideline value

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

How the guideline value of Sivapootham 1st Street has changed

Over the years, the guideline value for Sivapootham 1st Street has seen several revisions. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, an increase from Rs 1,500 per sq.ft in 2023, marking a change of +10%. The 2023 figure was a significant rise from Rs 1,005 per sq.ft in 2017, reflecting a change of +49%. However, the 2012 revision had a value of Rs 1,500 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

It is important to note that there are no figures available in the register for the years 2002, 2003, and 2007 for this street. This lack of data means we cannot assess any changes during those years.

Guideline values in Sivabootham

Sivabootham village has 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 for these streets is Rs 1,650 per sq.ft, which aligns with the 2024 figure for Sivapootham 1st Street.

• Sivapootha Medu: 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 Sivapootham 1st Street

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 at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sivapootham 1st Street?

The Sub Registrar Office that covers Sivapootham 1st Street is 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 reference point during the registration of property transactions in Sivabootham. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers should be aware that the guideline value can influence the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Sivapootham 1st Street?

The current guideline value of Sivapootham 1st Street 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 2023 to Rs 1,650 per sq.ft in 2024, which is a +10% increase. Additionally, it rose from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, a +49% increase.

What is the land classification for Sivapootham 1st Street?

The land classification for Sivapootham 1st Street is Residential Class I Type - I. This classification indicates the type of development permitted in the area.

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

Other streets in Sivabootham include Sivapootha Medu at Rs 1,650 per sq.ft, Sri Lakshmi Nagar at Rs 1,210 per sq.ft, and Sarangapani Street/ Salai at Rs 2,750 per sq.ft, among others.

Where can I find the Sub Registrar Office for Sivapootham 1st Street?

The Sub Registrar Office for Sivapootham 1st Street is 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.