Guideline Value for Siva Nagar (Ward-24)

Siva Nagar (Ward-24) guideline value

The current guideline value of Siva Nagar (Ward-24) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Siva Nagar (Ward-24) has changed

The guideline value register for Siva Nagar shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft.

Since there have been no figures recorded for the previous years, the only available guideline value is from the 2024 revision. There are no changes noted between the revisions above.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a guideline value for 2024, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Siva Nagar's 2024 figure above that median.

• Siva Nagar Annex: Rs 2,200 per sq.ft (2024)
• Siva Nagar: Rs 2,200 per sq.ft (2024)
• Sivapadam Street (Ward-02): Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar 1st cross st (Ward No.14): Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar 1st st (Ward No.14): Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar 2nd Cross St (Ward 14): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Nagar (Ward-24)

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total fees would amount to Rs 1,98,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Siva Nagar (Ward-24)?

The Sub Registrar Office that covers Siva Nagar (Ward-24) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Madhavaram, the guideline value is used to calculate the stamp duty and registration fees. This value is crucial for determining the costs associated with property transactions and is based on the latest revisions from the registration department.

It is important to note that the guideline value is not the same as the market value of the property. The guideline value is a standard set by the government to ensure uniformity in property transactions and is used for calculating taxes and fees at the time of registration.

Frequently asked questions

What is the current guideline value of Siva Nagar (Ward-24)?

The current guideline value of Siva Nagar (Ward-24) is Rs 2,200 per sq.ft, effective from 1 July 2024.

What is the land classification for Siva Nagar (Ward-24)?

Siva Nagar (Ward-24) is classified as Residential Class I Type - I, indicating its designation for residential purposes.

How has the guideline value changed over the years for Siva Nagar (Ward-24)?

There are no recorded figures for Siva Nagar in the guideline value register for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 2,200 per sq.ft.

What are the registration fees for property in Siva Nagar (Ward-24)?

The registration fees for property in Siva Nagar (Ward-24) include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Siva Nagar (Ward-24)?

The Sub Registrar Office for Siva Nagar (Ward-24) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.