Guideline Value for SIVASANKAR NAGAR ROAD

Sivasankar Nagar Road guideline value

The current guideline value of Sivasankar Nagar Road in Koladi village is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - III.

How the guideline value of Sivasankar Nagar Road has changed

In the 2012 revision, the guideline value was Rs 600 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 600 per sq.ft in the 2023 revision, which was a 49% rise from the previous figure. The most recent revision in 2024 set the guideline value at Rs 660 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Sivasankar Nagar Road. Overall, from 2012 to 2024, the guideline value has seen an increase of 10%.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Sivasankar Nagar Road is below this median.

• Siva Sankar Nagar: Rs 660 per sq.ft (2024)
• Sivasakthi Vinayagar Street: Rs 880 per sq.ft (2024)
• Sivan Koil Street: Rs 660 per sq.ft (2024)
• Shri Sivasakthi Vinayagar Nagar: Rs 1,100 per sq.ft (2024)
• Shri Karumari Nagar: Rs 1,100 per sq.ft (2024)
• Shri Devi Karumari Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasankar Nagar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty charged at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivasankar Nagar Road?

Sivasankar Nagar Road is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration of property transactions in Koladi. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the government receives the necessary revenue from property transactions. Buyers and sellers should be aware of the current guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sivasankar Nagar Road?

The current guideline value of Sivasankar Nagar Road is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Sivasankar Nagar Road?

Sivasankar Nagar Road is classified as Residential Class II Type - III under the Chennai South Joint II SRO.

How is the stamp duty calculated for properties in Sivasankar Nagar Road?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 46,200.

Where can I find the Sub Registrar Office for Sivasankar Nagar Road?

The Sub Registrar Office for Sivasankar Nagar Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.