Guideline Value for Siva Nagar

Siva Nagar guideline value

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

How the guideline value of Siva Nagar has changed

The guideline value register for Siva Nagar shows no figures 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.

Since there have been no figures recorded for the previous years, the 2024 revision stands alone without any changes or comparisons to earlier values.

Guideline values in Madhavaram

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

• Siva Nagar Annex: Rs 2,200 per sq.ft (2024)
• Siva Nagar (Ward-24): 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers Siva Nagar?

The Sub Registrar Office that covers Siva Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Siva Nagar?

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

What are the past revisions for Siva Nagar's guideline value?

The guideline value register for Siva Nagar shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision.

How does Siva Nagar's guideline value compare to other streets in Madhavaram?

Siva Nagar's guideline value of Rs 2,200 per sq.ft is above the median of Rs 1,600 per sq.ft for 1,946 streets in Madhavaram under the Madhavaram SRO.

What are the stamp duty and registration fees for a property in Siva Nagar?

For a property valued at Rs 22,00,000 in Siva Nagar, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Siva Nagar located?

The Sub Registrar Office for Siva Nagar is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.