Guideline Value for Siva Nagar

Siva Nagar guideline value

The current guideline value of Siva Nagar, located in Santhavellur_B village under the Sunguvarchattram SRO, is Rs 300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Siva Nagar has changed

In the 2017 revision, the guideline value was Rs 201 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 300 per sq.ft. The latest revision in 2024 continues this rate at Rs 300 per sq.ft, indicating no percentage change from 2023 to 2024. The overall increase from 2017 to 2024 is 49%.

The register does not provide figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only revisions available are from 2017, 2023, and 2024, showing a significant change from Rs 201 to Rs 300 per sq.ft over the period.

Guideline values in Santhavellur_B

In Santhavellur_B, there are 55 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 200 to Rs 2,000 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Siva Nagar's 2024 figure below this median.

• Sri Andal Nagar: Rs 300 per sq.ft (2024)
• SelvaVinayagar Kovil Street: Rs 300 per sq.ft (2024)
• Srinivasa Nagar: Rs 300 per sq.ft (2024)
• Samten: Rs 501 per sq.ft (2024)
• Sri ramanujar nagar: Rs 600 per sq.ft (2024)
• Sri Saravanabhavan Nagar: Rs 501 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Siva Nagar?

The Siva Nagar area falls under the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, 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 Santhavellur_B

The guideline value is a crucial factor in property transactions within Santhavellur_B, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration process will require adherence to these guidelines.

During the registration of property, the guideline value helps in calculating the stamp duty and registration fees. This ensures that both parties in the transaction are aware of the financial implications associated with the property transfer.

Frequently asked questions

What is the current guideline value of Siva Nagar?

The current guideline value of Siva Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in both 2023 and 2024, marking a total increase of 49% over this period.

What is the land classification of Siva Nagar?

Siva Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the registration office for Siva Nagar?

The registration office covering Siva Nagar is the Sunguvarchattram Sub Registrar Office, located on Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Siva Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 300 per sq.ft, the total guideline value is Rs 3,00,000, leading to a stamp duty of Rs 21,000 at 7%.