Guideline Value for SRI SIVA SELVI AMMAN NAGAR

Sri Siva Selvi Amman Nagar guideline value

The current guideline value of Sri Siva Selvi Amman Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Sri Siva Selvi Amman Nagar has changed

The guideline value for Sri Siva Selvi Amman Nagar has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,500 per sq.ft. The most recent revision in 2024 saw a further increase of 10%, resulting in the current guideline value of Rs 1,650 per sq.ft.

It is important to note that there were no figures available for the years 2002, 2003, and 2007 for Sri Siva Selvi Amman Nagar in the register.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, which means that the guideline value for Sri Siva Selvi Amman Nagar is slightly below the median.

• Subalakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Subbuammal Salai: Rs 1,970 per sq.ft (2024)
• Subramaniyar Koil 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Subramaniyar Koil 1st Street: Rs 1,100 per sq.ft (2024)
• Subramaniyar Koil 2nd Street: Rs 770 per sq.ft (2024)
• Subramaniyar Koil 3rd Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Siva Selvi Amman Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while the registration fee at 2% would amount to Rs 33,000. Together, these fees would total Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Siva Selvi Amman Nagar?

Sri Siva Selvi Amman Nagar is covered by the Chennai South Joint I 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 more information.

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

The guideline value is an essential factor when buying or selling property in Vanagaram, as it determines the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value serves as a benchmark for assessing the transaction's value. If the sale price exceeds the guideline value, the stamp duty is calculated based on the sale price; otherwise, it is based on the guideline value.

Frequently asked questions

What is the current guideline value of Sri Siva Selvi Amman Nagar?

The current guideline value of Sri Siva Selvi Amman Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Sri Siva Selvi Amman Nagar?

Sri Siva Selvi Amman Nagar is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Sri Siva Selvi Amman Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Sri Siva Selvi Amman Nagar?

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 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.