Guideline Value for Siva Sakthi Nagar

Siva Sakthi Nagar guideline value

The current guideline value of Siva Sakthi Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village and falls under the Padappai SRO. The land classification for this street 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. The 2012 revision set the value at Rs 2,100 per sq.ft, which was then reduced to Rs 1,407 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,100 per sq.ft in the 2023 revision, and finally, it rose to Rs 2,310 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from the 2012 value to the 2024 value shows a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,310 per sq.ft, which is the same as the current value for Siva Sakthi Nagar.

• Sivaraj Street: Rs 1,650 per sq.ft (2024)
• Sivasakthi Street: Rs 2,310 per sq.ft (2024)
• Siva Shankar Nagar: Rs 2,970 per sq.ft (2024)
• Siva Shanmugam Street: Rs 1,650 per sq.ft (2024)
• Sorkkam Nagar: Rs 2,640 per sq.ft (2024)
• Sigaram Enclave: Rs 2,640 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 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total cost for these fees to Rs 2,07,900. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Perungalathur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is set by the Registration Department and is essential for ensuring that the transaction is recorded accurately.

When buying or selling property, the guideline value helps in establishing a fair basis for the transaction. It ensures that the government receives the appropriate revenue from property sales and provides a standardized method for valuing real estate in the area.

Frequently asked questions

What is the current guideline value of Siva Sakthi Nagar?

The current guideline value of Siva Sakthi Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 per sq.ft in 2012 to Rs 1,407 per sq.ft in 2017, then to Rs 2,100 per sq.ft in 2023, and finally to Rs 2,310 per sq.ft in 2024.

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

For a property valued at Rs 23,10,000, the stamp duty would be Rs 1,61,700 and the registration fee would be Rs 46,200, totaling Rs 2,07,900.

Which office handles property registrations for Siva Sakthi Nagar?

The Padappai Sub Registrar Office handles property registrations for Siva Sakthi Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Siva Sakthi Nagar?

The land classification for Siva Sakthi Nagar is Residential Class II Type - I, which indicates the type of development allowed in the area.