Guideline Value for SIVASAKTHI NAGAR TAMIL STREET

Sivasakthi Nagar Tamil Street guideline value

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

How the guideline value of Sivasakthi Nagar Tamil Street has changed

In the 2012 revision, the guideline value was Rs 2,700 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,900 per sq.ft, reflecting a change of +7% from the 2023 figure. Overall, from 2012 to 2024, there has been a +7% increase in the guideline value.

The register has no figures for the years 2002, 2003, 2007, and 2017 for Sivasakthi Nagar Tamil Street. Therefore, the only revisions available are from 2012, 2023, and 2024.

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 for these streets is Rs 2,500 per sq.ft, making the 2024 figure for Sivasakthi Nagar Tamil Street above this median.

• SIVASAKTHI NAGAR (Near Water Canal Road): Rs 2,900 per sq.ft (2024)
• Sivasakthi Nagar Extension: 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 Tamil 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 for these fees to Rs 2,61,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

You can also use our stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers Sivasakthi Nagar Tamil Street?

The Sivasakthi Nagar Tamil Street 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 during the registration of property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the costs involved in the transaction. This transparency helps in maintaining a clear understanding of the financial obligations associated with property transfers in Korattur.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar Tamil Street?

The current guideline value of Sivasakthi Nagar Tamil Street is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has increased from Rs 2,700 per sq.ft to Rs 2,900 per sq.ft in 2024, marking a total increase of +7% over this period.

What is the land classification for Sivasakthi Nagar Tamil Street?

Sivasakthi Nagar Tamil Street is classified as Residential Class II Type - II.

Where can I find the registration office for Sivasakthi Nagar Tamil Street?

The registration office for Sivasakthi Nagar Tamil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Sivasakthi Nagar Tamil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 2,900 per sq.ft, the stamp duty would amount to Rs 2,03,000.