Guideline Value for Siva Nagar

Siva Nagar guideline value

The current guideline value of Siva Nagar, located in Madambakkam village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Siva Nagar has changed

The guideline value for Siva Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 804 per sq.ft before rising again to Rs 1,200 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for the years 2002 and 2003 for this street.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. The 2024 revision maintained the same value as the previous year, showing a change of +0%. Overall, from 2007 to 2024, the guideline value has increased by 390%.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. Siva Nagar's 2024 figure is equal to this median.

• Sivasakthi Nagar: Rs 1,200 per sq.ft (2024)
• Sillambu Nagar: Rs 1,200 per sq.ft (2024)
• Shanthi Nagar: Rs 1,200 per sq.ft (2024)
• Shagithya Avenue: Rs 1,200 per sq.ft (2024)
• Sethuganga Nagar: Rs 1,200 per sq.ft (2024)
• Sri Amman Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total charges to Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Siva Nagar?

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

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

The guideline value is a critical factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Siva Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions being Rs 1,200 per sq.ft in both 2023 and 2024, and Rs 804 per sq.ft in 2017. The overall increase from 2007 to 2024 is 390%.

What are the guideline values for other streets in Madambakkam?

Other streets in Madambakkam also have a guideline value of Rs 1,200 per sq.ft in 2024, including Sivasakthi Nagar, Sillambu Nagar, Shanthi Nagar, Shagithya Avenue, Sethuganga Nagar, and Sri Amman Nagar.

What is the stamp duty rate in Siva Nagar?

The stamp duty rate in Siva Nagar is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

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

The Sub Registrar Office for Siva Nagar is the Gooduvancheri SRO, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.