Guideline Value for SIVASAKTHI COLONY

Sivasakthi Colony guideline value

The current guideline value of Sivasakthi Colony, located in Villivakkam village under the Villivakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - III.

How the guideline value of Sivasakthi Colony has changed

The guideline value for Sivasakthi Colony has seen significant changes over the years. In 2002, the value was Rs 415 per sq.ft. This increased to Rs 475 in 2003, marking a 14% rise. The value continued to grow, reaching Rs 950 in 2007, which was a substantial 100% increase. By 2012, the guideline value was Rs 4,000 per sq.ft, reflecting a 321% increase from the previous revision.

In 2017, the value saw a decline to Rs 2,680 per sq.ft, a drop of 33%. However, this was followed by a significant increase to Rs 4,000 in 2023, and then to the current value of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 960%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with 2024 guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median value is Rs 4,900 per sq.ft, indicating that Sivasakthi Colony's current value is below this median.

• Sivasakthi Colony Cross Street: Rs 3,800 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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 Sivasakthi Colony?

The Sivasakthi Colony falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 when buying or selling property in Villivakkam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements.

At the time of registration, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs in the property transaction process. The fees are based on the higher of the guideline value or the sale price, ensuring that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Sivasakthi Colony?

The current guideline value of Sivasakthi Colony is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 415 in 2002 to Rs 4,400 in 2024, representing an overall increase of 960% over this period.

What are the other streets in Villivakkam and their guideline values?

Other streets in Villivakkam include Sivasakthi Colony Cross Street at Rs 3,800, Sivan Koil West Mada Street at Rs 3,300, and several others, with values ranging from Rs 2,700 to Rs 3,800 per sq.ft in 2024.

Where is the Villivakkam Sub Registrar Office located?

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

How are stamp duty and registration fees calculated in Sivasakthi Colony?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. These fees are based on the higher of the guideline value or the sale price of the property.