Guideline Value for Siva Sakthi Nagar

Siva Sakthi Nagar guideline value

The current guideline value of Siva Sakthi Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This locality is situated in Nallur village, under the Sriperumpudur Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Siva Sakthi Nagar has changed

The guideline value for Siva Sakthi Nagar has seen several revisions over the years. In 2012, the guideline value was set at Rs 150 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 100 per sq.ft. Following this, the value increased by 50% to Rs 150 per sq.ft in the 2023 revision, and it has remained at this figure through the 2024 revision, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 150 per sq.ft.

Guideline values in Nallur

Nallur village has a total of 33 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 126 to Rs 700 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, positioning Siva Sakthi Nagar's 2024 figure below this median.

• S.R. Garden: Rs 150 per sq.ft (2024)
• Sri Balaji Nagar: Rs 250 per sq.ft (2024)
• Sri Balaji Nagar Part-I: Rs 250 per sq.ft (2024)
• Sri Balaji Nagar Part-II: Rs 250 per sq.ft (2024)
• S.D. Nagar: Rs 350 per sq.ft (2024)
• Sriperumpudur Kundrathur Road: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Sakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, making the total fees together Rs 13,500. It is important to note that 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 Sakthi Nagar?

The Siva Sakthi Nagar area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nallur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is compared with the sale price. The higher of the two is used to calculate the stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Siva Sakthi Nagar?

The current guideline value of Siva Sakthi Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft from 2012 to 2024, with a decrease to Rs 100 per sq.ft in 2017 and an increase back to Rs 150 per sq.ft in 2023.

What are the other streets in Nallur with their guideline values?

Other streets in Nallur include S.R. Garden at Rs 150 per sq.ft, Sri Balaji Nagar at Rs 250 per sq.ft, and S.D. Nagar at Rs 350 per sq.ft, among others.

What fees are associated with property registration in Siva Sakthi Nagar?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Siva Sakthi Nagar located?

The Sub Registrar Office covering Siva Sakthi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.