Guideline Value for SIVASAKTHI NAGAR EXTENSION

Sivasakthi Nagar Extension guideline value

The current guideline value of Sivasakthi Nagar Extension is Rs 2,900 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO, classified as Residential Class II Type - II.

How the guideline value of Sivasakthi Nagar Extension has changed

The guideline value for Sivasakthi Nagar Extension has seen several revisions over the years. In 2012, the value was Rs 2,700 per sq.ft, which decreased to Rs 1,809 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,700 per sq.ft in 2023, and then rose to Rs 2,900 per sq.ft in the 2024 revision. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, the guideline value increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 7% increase. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, positioning Sivasakthi Nagar Extension's 2024 figure above that median.

• SIVASAKTHI NAGAR (Near Water Canal Road): Rs 2,900 per sq.ft (2024)
• Sivasakthi Nagar Tamil Street: Rs 2,900 per sq.ft (2024)
• Sivasakthi Nagar 6th To 10th Street: Rs 2,900 per sq.ft (2024)
• Sivasakthi Nagar 5th Street: Rs 2,900 per sq.ft (2024)
• SIVASAKTHI NAGAR 4th STREET: Rs 2,900 per sq.ft (2024)
• SIVASAKTHI NAGAR 3rd STREET: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Nagar Extension

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, while the registration fee at 2% would be Rs 58,000, bringing the total fees to Rs 2,61,000. It is important to note that 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 Extension?

The Sivasakthi Nagar Extension 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 Korattur

The guideline value is a crucial factor in the registration process when buying or selling property in Korattur. It determines the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is used to assess the minimum value for taxation purposes. Buyers should be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar Extension?

The current guideline value of Sivasakthi Nagar Extension 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 from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then increased to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,900 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Sivasakthi Nagar Extension?

For a 1,000 sq.ft plot, the total guideline value is Rs 29,00,000. The stamp duty would be Rs 2,03,000, and the registration fee would be Rs 58,000, totaling Rs 2,61,000.

Which Sub Registrar Office covers Sivasakthi Nagar Extension?

The Villivakkam Sub Registrar Office covers Sivasakthi Nagar Extension, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Sivasakthi Nagar Extension?

Sivasakthi Nagar Extension is classified as Residential Class II Type - II.