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Guideline Value

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Guideline Value for SIVASAKTHI NAGAR 1st STREET

₹2900/sq.ft.

The guideline value for Sivasakthi Nagar 1st Street in Korattur village (Villivakkam SRO, Chennai zone) is Rs 2900 per sq.ft, effective 1 July 2024. It was Rs 2700 per sq.ft from 1 April 2023, a 7% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Korattur

Village

Villivakkam

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹2900 /sq.ft.
From 1-4-2023 ₹2700 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1809 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2700 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹600 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561092
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sivasakthi Nagar 1st Street

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SIVASAKTHI NAGAR 1st STREET guideline value

The current guideline value of SIVASAKTHI NAGAR 1st STREET is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of SIVASAKTHI NAGAR 1st STREET has changed

The guideline value for SIVASAKTHI NAGAR 1st STREET has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft. This figure increased significantly to Rs 2,700 per sq.ft in 2012, marking a rise of 350%. However, from 2012 to 2017, the value decreased to Rs 1,809 per sq.ft, a drop of 33%. The subsequent revision in 2023 set the value at Rs 2,700 per sq.ft, which was an increase of 49% from the previous figure. The latest revision in 2024 has raised the guideline value to Rs 2,900 per sq.ft, reflecting a 7% increase from 2023.

It is important to note that the register has no figure for SIVASAKTHI NAGAR 1st STREET for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 383%.

Guideline values in Korattur

In Korattur, there are a total of 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, making the current guideline value for SIVASAKTHI NAGAR 1st STREET above that median.

Stamp duty and registration fee for property in SIVASAKTHI NAGAR 1st STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total cost to Rs 2,61,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SIVASAKTHI NAGAR 1st STREET?

The SIVASAKTHI NAGAR 1st STREET falls under 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 further assistance.

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

The guideline value is a critical factor in the registration process for property transactions in Korattur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the transaction must be registered at the relevant Sub Registrar Office. The guideline value will influence the overall costs associated with the transaction, including the stamp duty and registration fees, ensuring that both parties are clear on the financial obligations involved.

Frequently asked questions

What is the current guideline value of SIVASAKTHI NAGAR 1st STREET?

The current guideline value of SIVASAKTHI NAGAR 1st STREET is Rs 2,900 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 600 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, marking an overall increase of 383%.

What is the stamp duty for property in SIVASAKTHI NAGAR 1st STREET?

The stamp duty for property in SIVASAKTHI NAGAR 1st STREET is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registration for SIVASAKTHI NAGAR 1st STREET?

The Villivakkam Sub Registrar Office handles property registration for SIVASAKTHI NAGAR 1st STREET.

What are the guideline values of other streets in Korattur?

Other streets in Korattur under the Villivakkam SRO have a guideline value of Rs 2,900 per sq.ft in 2024, which is consistent with SIVASAKTHI NAGAR 1st STREET.