Guideline Value for SIVARAMAKRISHNA NAGAR 1ST MAIN SALAI

Sivaramakrishna Nagar 1st Main Salai guideline value

The current guideline value of Sivaramakrishna Nagar 1st Main Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri 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 Sivaramakrishna Nagar 1st Main Salai has changed

The guideline value for Sivaramakrishna Nagar 1st Main Salai has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and it has now risen to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is a rise of 10%. Notably, the increase from 2017 to 2023 was 49%, while the value dropped by 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolathuvancheri

Kolathuvancheri has a total of 146 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 660 to Rs 4,600 per sq.ft. The median guideline value in this village is Rs 1,650 per sq.ft, placing the 2024 figure for Sivaramakrishna Nagar 1st Main Salai above this median.

• Sivaramakrishna Nagar: Rs 2,200 per sq.ft (2024)
• Shri Sai Nagar: Rs 1,650 per sq.ft (2024)
• Senthamzhil Nagar Extension: Rs 1,870 per sq.ft (2024)
• Senthamzhil Nagar 2nd Cross Street: Rs 1,870 per sq.ft (2024)
• Senthamzhil Nagar 1st Main Salai: Rs 1,870 per sq.ft (2024)
• Senthamzhil Nagar 1st Cross Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaramakrishna Nagar 1st Main Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivaramakrishna Nagar 1st Main Salai?

The Sub Registrar Office that covers Sivaramakrishna Nagar 1st Main Salai 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 information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kolathuvancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the buyer must pay the stamp duty based on the higher amount between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Sivaramakrishna Nagar 1st Main Salai?

The current guideline value of Sivaramakrishna Nagar 1st Main Salai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2012?

Since 2012, the guideline value has increased by 10%, moving from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024.

What was the guideline value in 2017?

The guideline value in 2017 was Rs 1,340 per sq.ft. This was a decrease from the previous value in 2012.

What is the registration office for Sivaramakrishna Nagar 1st Main Salai?

The registration office for Sivaramakrishna Nagar 1st Main Salai 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.

How is the stamp duty calculated for properties in Kolathuvancheri?

Stamp duty for properties in Kolathuvancheri is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.