Guideline Value for Siva Rao Lane

Siva Rao Lane guideline value

The current guideline value of Siva Rao Lane is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Residential Class IV Type - I.

How the guideline value of Siva Rao Lane has changed

According to the guideline value register, there are no recorded figures for Siva Rao Lane in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only revision available is from 2024, which lists the guideline value at Rs 2,700 per sq.ft.

Since there are no figures for the previous years, it is clear that there has been no change in the guideline value for Siva Rao Lane across these revisions. The current value reflects the latest update effective from July 2024.

Guideline values in Vepery

In Vepery, there are a total of 290 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. Siva Rao Lane's guideline value of Rs 2,700 per sq.ft is below this median.

• Siva Rao Road: Rs 2,700 per sq.ft (2024)
• Sivaraj Salai: Rs 4,400 per sq.ft (2024)
• Sivarajpauram 2nd street: Rs 2,700 per sq.ft (2024)
• Sivarajapuram cross lane: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 5th Street: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 4th stret: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Rao Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Siva Rao Lane?

The Sub Registrar Office that covers Siva Rao Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vepery. It serves as the basis for calculating the stamp duty and registration fees that are payable at the time of registration.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the legal and financial obligations of both the buyer and the seller. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Siva Rao Lane?

The current guideline value of Siva Rao Lane is Rs 2,700 per sq.ft, effective from 1 July 2024.

What land classification does Siva Rao Lane fall under?

Siva Rao Lane is classified as Residential Class IV Type - I, according to the guideline value register.

What are the guideline values for other streets in Vepery?

Other streets in Vepery have varying guideline values, with rates ranging from Rs 2,200 to Rs 22,000 per sq.ft. Siva Rao Lane's value is Rs 2,700 per sq.ft, which is below the median of Rs 4,800 per sq.ft.

How is stamp duty calculated for properties in Siva Rao Lane?

Stamp duty for properties in Siva Rao Lane is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,89,000.

Where can I find the Sub Registrar Office for Siva Rao Lane?

The Sub Registrar Office covering Siva Rao Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.