Guideline Value for SIVARAMA IYAR STREET

Sivarama Iyar Street guideline value

The current guideline value of Sivarama Iyar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chettiyaragaram 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 Sivarama Iyar Street has changed

The guideline value for Sivarama Iyar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was later adjusted to Rs 1,005 per sq.ft in 2017, marking a decrease of 33%. However, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then rose again to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chettiyaragaram

In Chettiyaragaram, there are 22 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,210 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Sivarama Iyar Street's 2024 figure below that median.

• S.K.Nagar: Rs 2,420 per sq.ft (2024)
• S.K.Nagar Main Road: Rs 2,420 per sq.ft (2024)
• Singara Nagiker Street: Rs 1,650 per sq.ft (2024)
• School Street: Rs 1,650 per sq.ft (2024)
• Rajalakshmi Garden: Rs 1,650 per sq.ft (2024)
• Porur Garden Phase-III: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sivarama Iyar Street

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

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivarama Iyar Street?

The Sub Registrar Office that covers Sivarama Iyar 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. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Chettiyaragaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that both parties are aware of the financial implications of the transaction.

It is essential for buyers and sellers to refer to the current guideline value to ensure compliance with registration requirements and to understand the costs involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Sivarama Iyar Street?

The current guideline value of Sivarama Iyar 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 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 are the other streets in Chettiyaragaram with their guideline values?

Other streets in Chettiyaragaram include S.K.Nagar and S.K.Nagar Main Road at Rs 2,420 per sq.ft, as well as Singara Nagiker Street, School Street, and Rajalakshmi Garden at Rs 1,650 per sq.ft.

What is the registration fee for properties on Sivarama Iyar Street?

The registration fee for properties on Sivarama Iyar Street is calculated based on the guideline value. For example, a property valued at Rs 16,50,000 would incur a registration fee of Rs 33,000 at 2%.

Which office handles the registration for Sivarama Iyar Street?

The registration for Sivarama Iyar Street is handled 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.