Guideline Value for Siva Rao Road

Siva Rao Road guideline value

The current guideline value of Siva Rao Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Siva Rao Road has changed

The guideline value register does not provide figures for Siva Rao Road for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 2,700 per sq.ft.

The 2024 revision shows a current guideline value of Rs 2,700 per sq.ft, with no changes noted from previous revisions. Therefore, there are no changes to report between the revisions for this street.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 4,800 per sq.ft, placing Siva Rao Road's 2024 figure below that median.

• Siva Rao Lane: 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 Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to 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 Road?

The Sub Registrar Office that covers Siva Rao Road 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 during the registration of property transactions in Vepery. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Siva Rao Road?

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

How often does the guideline value get revised?

The guideline value is revised periodically, with the most recent revision for Siva Rao Road occurring in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, 2017, and 2023.

What is the land classification for Siva Rao Road?

Siva Rao Road is classified as Residential Class IV Type - I, indicating its designation for residential use.

How is stamp duty calculated for properties in Vepery?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at a rate of 7%.

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

The Sub Registrar Office covering Siva Rao Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find more details online.