Guideline Value for SIVASAILAM STREET

Sivasailam Street guideline value

The current guideline value of Sivasailam Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO and is classified as Mixed Special Type - I.

How the guideline value of Sivasailam Street has changed

The guideline value for Sivasailam Street has seen significant changes over the years. In the 2002 revision, the value was Rs 1,875 per sq.ft. It increased to Rs 2,081 per sq.ft in 2003, marking a growth of 11%. The value then rose to Rs 3,000 per sq.ft in 2007, which was a substantial increase of 44%. The 2012 revision saw the value drop to Rs 13,000 per sq.ft, a decrease of 333% from the previous figure. In 2017, the guideline value increased to Rs 8,710 per sq.ft, reflecting a rise of 49% from 2012. The most recent revision in 2023 set the value at Rs 13,000 per sq.ft, which then increased by 10% to the current value of Rs 14,300 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 663%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Tnagar

In Tnagar village, 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 value is Rs 11,000 per sq.ft, placing Sivasailam Street's 2024 figure above this median.

• Sivaprakasam Street: Rs 8,300 per sq.ft (2024)
• Sivagnanam St: 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)
• Singaravelu Street: Rs 11,000 per sq.ft (2024)
• Singaram Street: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasailam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, totaling Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sivasailam Street?

The Sub Registrar Office covering Sivasailam 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 plays a crucial role during the registration process of property transactions in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sivasailam Street?

The current guideline value of Sivasailam Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,875 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, reflecting an overall increase of 663% over the years.

What is the stamp duty for property in Sivasailam Street?

The stamp duty for property in Sivasailam Street is 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 10,01,000.

Which office handles property registration for Sivasailam Street?

The Thiyagaraya nagar Sub Registrar Office handles property registration for Sivasailam Street, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark for establishing the price and ensuring compliance with government regulations.