Guideline Value for SIVAPRAKASAM STREET

Sivaprakasam Street guideline value

The current guideline value of Sivaprakasam Street is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sivaprakasam Street has changed

The guideline value of Sivaprakasam Street has undergone several revisions over the years. In 2002, the value was Rs 1,943 per sq.ft, which increased to Rs 2,157 per sq.ft in 2003. Following this, the value rose to Rs 3,139 per sq.ft in 2007, and then saw a significant jump to Rs 7,500 per sq.ft in 2012. However, it decreased to Rs 5,025 per sq.ft in 2017. The value then increased to Rs 7,500 per sq.ft in 2023, before reaching the current value of Rs 8,300 per sq.ft in 2024.

Looking at the changes, from 2002 to 2024, there has been an overall increase of 327%. The change from 2017 to 2023 was an increase of 49%, while the change from 2023 to 2024 is an increase of 11%. The 2012 to 2017 period saw a decrease of 33%, and the 2007 to 2012 period had a significant increase of 139%. Additionally, the value rose by 46% from 2003 to 2007 and by 11% from 2002 to 2003. There are no figures available for revisions in years other than those listed.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value in this area is Rs 11,000 per sq.ft, making the current value of Sivaprakasam Street below that median.

• Sivasailam Street: Rs 14,300 per sq.ft (2024)
• Sivagnanam St: Rs 8,300 per sq.ft (2024)
• Singaravelu Street: Rs 11,000 per sq.ft (2024)
• Singaram Street: Rs 8,300 per sq.ft (2024)
• Solaiappan Street: Rs 5,500 per sq.ft (2024)
• Somasundaram Pillai Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaprakasam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value would be Rs 83,00,000. The stamp duty, charged at 7%, would amount to Rs 5,81,000, while the registration fee at 2% would be Rs 1,66,000. Together, the total cost for stamp duty and registration fee would be Rs 7,47,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sivaprakasam Street?

The Sub Registrar Office that covers Sivaprakasam Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and transparently. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Sivaprakasam Street?

The current guideline value of Sivaprakasam Street is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,943 per sq.ft in 2002 to Rs 8,300 per sq.ft in 2024, showing an overall increase of 327% over the years.

What is the registration office for Sivaprakasam Street?

The registration office for Sivaprakasam Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What are the stamp duty and registration fees for property in Sivaprakasam Street?

For a property valued at Rs 83,00,000, the stamp duty would be Rs 5,81,000 and the registration fee would be Rs 1,66,000, totaling Rs 7,47,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark for ensuring accurate and transparent registration of property sales.