Guideline Value for Siva Nagar Annex

Siva Nagar Annex guideline value

The current guideline value of Siva Nagar Annex, located in Madhavaram village under the Madhavaram SRO, is Rs 2,200 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Siva Nagar Annex has changed

The guideline value for Siva Nagar Annex has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft. This was followed by the 2024 revision, which increased the value to Rs 2,200 per sq.ft, reflecting a change of +10% from the previous figure.

There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 for this street in the register. Thus, the only available revisions are from 2012 and 2024.

Guideline values in Madhavaram

In Madhavaram, the guideline values for streets under the Madhavaram SRO range from Rs 1,300 to Rs 7,500 per sq.ft as of 2024, with a median value of Rs 1,600 per sq.ft. The guideline value for Siva Nagar Annex is above this median, indicating its relative position in the area.

• Siva Nagar (Ward-24): 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 Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Siva Nagar Annex?

The Siva Nagar Annex falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Madhavaram. 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 value of the property in the context of local regulations. It is essential to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Siva Nagar Annex?

The current guideline value of Siva Nagar Annex is Rs 2,200 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Siva Nagar Annex was Rs 2,000 per sq.ft in 2012 and increased to Rs 2,200 per sq.ft in 2024, marking a change of +10%. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What are the guideline values for other streets in Madhavaram?

In Madhavaram, the guideline values for streets range from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. Siva Nagar Annex has a value above the median of Rs 1,600 per sq.ft.

What are the fees associated with property registration in Siva Nagar Annex?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. Fees are based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Siva Nagar Annex located?

The Madhavaram Sub Registrar Office covers Siva Nagar Annex and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registration processes for the area.