Guideline Value for SIVASAKTHI COLONY CROSS STREET

Sivasakthi Colony Cross Street guideline value

The current guideline value of Sivasakthi Colony Cross Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village and falls under the Villivakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Sivasakthi Colony Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 3,500 per sq.ft. This figure then decreased to Rs 2,345 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, representing a 49% rise. The most recent revision in 2024 brought the value to Rs 3,800 per sq.ft, which is a 9% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Sivasakthi Colony Cross Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%.

Guideline values in Villivakkam

Villivakkam has a total of 372 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, positioning Sivasakthi Colony Cross Street's 2024 figure below this median.

• Sivasakthi Colony: Rs 4,400 per sq.ft (2024)
• Sivan Koil West Mada Street: Rs 3,300 per sq.ft (2024)
• Sivankoil Street: Rs 3,300 per sq.ft (2024)
• Sivan Koil South Mada Street Lane: Rs 2,700 per sq.ft (2024)
• Sivan Koil South Mada Street: Rs 3,300 per sq.ft (2024)
• Sivan Koil North Mada Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Colony Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, leading to a total of Rs 3,42,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivasakthi Colony Cross Street?

The Sub Registrar Office that covers Sivasakthi Colony Cross Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

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

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivasakthi Colony Cross Street?

The current guideline value of Sivasakthi Colony Cross Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,800 per sq.ft in 2024.

What is the land classification for Sivasakthi Colony Cross Street?

The land classification for Sivasakthi Colony Cross Street is Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Where is the Sub Registrar Office for Sivasakthi Colony Cross Street located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.