Guideline Value for Siva Nagar

Siva Nagar guideline value

The current guideline value of Siva Nagar, located in Tondaiarpet village under the Royapuram SRO, is Rs 1,300 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

The guideline value for Siva Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2012 revision, marking a 100% increase. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, reflecting an 8% increase from 2012.

There are no figures available for the years 2002, 2003, 2017, and 2023 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO with a guideline value range from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, making Siva Nagar's 2024 figure below that median.

• Singara Garden 7th Lane: Rs 4,400 per sq.ft (2024)
• Singara Garden 1st Lane: Rs 4,400 per sq.ft (2024)
• Siggirindapalayam 9th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 8th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 7th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 6th Street: 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 1,300 per sq.ft, the total guideline value comes to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Siva Nagar?

Siva Nagar falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property in question. It is essential for buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Siva Nagar?

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

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 600 per sq.ft to Rs 1,300 per sq.ft in 2024, which is an overall increase of 117%.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Siva Nagar?

The Royapuram Sub Registrar Office covers Siva Nagar, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Siva Nagar?

The land classification for Siva Nagar is Residential Class II Type - I.