Guideline Value for SIYATHAMMAN NAGAR ANNEX

Siyathamman Nagar Annex guideline value

The current guideline value of Siyathamman Nagar Annex is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - III.

How the guideline value of Siyathamman Nagar Annex has changed

The guideline value for Siyathamman Nagar Annex has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then changed to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision has set it at Rs 2,700 per sq.ft. 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%, followed by a significant increase of 49% from 2017 to 2023. The change from 2023 to 2024 reflects an increase of 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Korattur

In Korattur village, 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 is Rs 2,500 per sq.ft, and Siyathamman Nagar Annex's 2024 figure is above that median.

• Siyathamman Nagar: Rs 2,700 per sq.ft (2024)
• Siyathamman Koil Street: Rs 1,600 per sq.ft (2024)
• Sivasakthi Nagar Tamil Street: Rs 2,900 per sq.ft (2024)
• SIVASAKTHI NAGAR (Near Water Canal Road): Rs 2,900 per sq.ft (2024)
• Sokaiketha Nagar: Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar Extension: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Siyathamman Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Siyathamman Nagar Annex?

The Siyathamman Nagar Annex is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to consider this value during negotiations to ensure compliance with legal requirements and to avoid any potential disputes at the time of registration.

Frequently asked questions

What is the current guideline value of Siyathamman Nagar Annex?

The current guideline value of Siyathamman Nagar Annex is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 2,500 per sq.ft in 2012, Rs 1,675 per sq.ft in 2017, Rs 2,500 per sq.ft in 2023, and the current value of Rs 2,700 per sq.ft in 2024.

What is the land classification for Siyathamman Nagar Annex?

The land classification for Siyathamman Nagar Annex is Residential Class I Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registration for Siyathamman Nagar Annex?

The Villivakkam Sub Registrar Office handles property registration for Siyathamman Nagar Annex, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.