Guideline Value for Siva Avenue

Siva Avenue guideline value

The current guideline value of Siva Avenue in Nandhivaram village is Rs 1,000 per sq.ft, effective from 1 July 2024. This street falls under the Gooduvancheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Siva Avenue has changed

Over the years, the guideline value of Siva Avenue has undergone several revisions. The earliest recorded figure was Rs 69 per sq.ft in 2002, which saw a significant increase to Rs 328 per sq.ft by 2007, marking a 375% rise. In 2012, the value remained constant at Rs 1,000 per sq.ft, but it dropped to Rs 670 per sq.ft in 2017, a decrease of 33%. The value then stabilized at Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, showing no change from the previous year.

Notably, there is no figure available for the year 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1349%.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value for Siva Avenue is below this median.

• Sivamurugan Nagar: Rs 1,000 per sq.ft (2024)
• Shri Mahalakshmi Nagar: Rs 1,500 per sq.ft (2024)
• Sheela Nagar: Rs 1,000 per sq.ft (2024)
• Sowbakkya Nagar: Rs 1,000 per sq.ft (2024)
• S.R Avenue (S.No.562/22A): Rs 1,000 per sq.ft (2024)
• Sree Kuberan Nagar: Rs 2,345 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Siva Avenue?

The Siva Avenue falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Nandhivaram. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these fees are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property registration. This value is updated periodically, reflecting changes in the local real estate market.

Frequently asked questions

What is the current guideline value of Siva Avenue?

The current guideline value of Siva Avenue is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 69 per sq.ft in 2002 to Rs 1,000 per sq.ft in 2024, reflecting an overall increase of 1349% over this period.

What is the median guideline value in Nandhivaram?

The median guideline value in Nandhivaram is Rs 1,500 per sq.ft for the year 2024, with Siva Avenue's value being below this median.

What are the stamp duty and registration fees for Siva Avenue?

For a 1,000 sq.ft plot valued at Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000, resulting in a stamp duty of Rs 70,000 and a registration fee of Rs 20,000, totaling Rs 90,000.

Where can I find the Sub Registrar Office for Siva Avenue?

The Gooduvancheri Sub Registrar Office covers Siva Avenue and is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.