Guideline Value for SIVASAKTHI NAGAR - RAMACHANDRAN STREET

Sivasakthi Nagar - Ramachandran Street guideline value

The current guideline value of Sivasakthi Nagar - Ramachandran Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Thirusulam village, under the Pallavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sivasakthi Nagar - Ramachandran Street has changed

The guideline value for Sivasakthi Nagar - Ramachandran Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, an increase of 32% from the 2023 revision of Rs 1,000 per sq.ft. Prior to that, in 2017, the value was Rs 804 per sq.ft, marking a 24% increase from the 2012 revision of Rs 1,200 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, resulting in the 2017 figure of Rs 804 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%, with the current value being below the median of Rs 1,940 per sq.ft for other streets in Thirusulam.

Guideline values in Thirusulam

Thirusulam village has a total of 74 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median value for these streets is Rs 1,940 per sq.ft, and Sivasakthi Nagar - Ramachandran Street's current value is below this median.

• Sivasakthi Nagar - Kambar Street: Rs 1,320 per sq.ft (2024)
• Sivasakthi Nagar - Kalainger Salai: Rs 1,320 per sq.ft (2024)
• Samy Nagar 1 To 2 Streets: Rs 1,100 per sq.ft (2024)
• Sakthi Nagar - Thiruvalluvar Street: Rs 1,320 per sq.ft (2024)
• Sakthi Nagar - Mahathma Gandhi Street: Rs 1,320 per sq.ft (2024)
• Sakthi Nagar - Kambar Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Nagar - Ramachandran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivasakthi Nagar - Ramachandran Street?

The Sivasakthi Nagar - Ramachandran Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirusulam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value serves as a reference point, and the duty is charged on whichever is higher between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar - Ramachandran Street?

The current guideline value of Sivasakthi Nagar - Ramachandran Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Sivasakthi Nagar - Ramachandran Street?

Sivasakthi Nagar - Ramachandran Street is classified as Residential Class III Type - I.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 13,20,000 would incur a stamp duty of Rs 92,400 and a registration fee of Rs 26,400.