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Guideline Value

Corporate

Guideline Value for SIVASAKTHI NAGAR 2nd STREET

₹2900/sq.ft.

The guideline value for Sivasakthi Nagar 2nd 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 ₹163 /sq.ft.
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 2nd Street

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SIVASAKTHI NAGAR 2nd STREET guideline value

The current guideline value of SIVASAKTHI NAGAR 2nd STREET is Rs 2,900 per sq.ft. This street is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of SIVASAKTHI NAGAR 2nd STREET has changed

The guideline value for SIVASAKTHI NAGAR 2nd STREET has seen significant changes over the years. In 2002, the value was Rs 163 per sq.ft, which increased to Rs 600 per sq.ft in 2007. Following this, the value surged to Rs 2,700 per sq.ft in 2012, marking a substantial increase of 350%. However, it then dropped to Rs 1,809 per sq.ft in 2017, a decrease of 33%. The value continued to rise, reaching Rs 2,700 per sq.ft in 2023, and finally, it was revised to Rs 2,900 per sq.ft in 2024, reflecting a 7% increase from the previous year.

The register does not contain figures for the year 2003 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1679%.

Guideline values in Korattur

In Korattur, there are 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 is Rs 2,500 per sq.ft, placing SIVASAKTHI NAGAR 2nd STREET's current value above this median.

Stamp duty and registration fee for property in SIVASAKTHI NAGAR 2nd STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SIVASAKTHI NAGAR 2nd STREET?

The SIVASAKTHI NAGAR 2nd 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 more information.

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

When buying or selling property in Korattur, the guideline value plays a crucial role in determining the stamp duty and registration fees. Buyers must pay these fees based on the higher of the guideline value or the sale price, ensuring that the transaction is registered correctly.

Understanding the guideline value is essential for both buyers and sellers, as it helps in calculating the financial obligations associated with property transactions. It is advisable to check the latest revisions to stay informed about any changes that may affect the transaction.

Frequently asked questions

What is the current guideline value of SIVASAKTHI NAGAR 2nd STREET?

The current guideline value of SIVASAKTHI NAGAR 2nd STREET is Rs 2,900 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 163 per sq.ft in 2002 to Rs 2,900 per sq.ft in 2024, reflecting an overall increase of 1679% over this period.

What is the land classification for SIVASAKTHI NAGAR 2nd STREET?

The land classification for SIVASAKTHI NAGAR 2nd STREET is Residential Class II Type - II.

Which office handles registrations for properties in SIVASAKTHI NAGAR 2nd STREET?

The Villivakkam Sub Registrar Office handles registrations for properties in SIVASAKTHI NAGAR 2nd STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Korattur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 29,00,000, the stamp duty would be Rs 2,03,000 at a rate of 7%.