Guideline Value for Siva Shankar Nagar

Siva Shankar Nagar guideline value

The current guideline value of Siva Shankar Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village under the Padappai SRO, classified as Commercial Class I Type - II.

How the guideline value of Siva Shankar Nagar has changed

Over the years, the guideline value of Siva Shankar Nagar has seen several revisions. The 2012 revision set the value at Rs 2,700 per sq.ft, which then decreased to Rs 1,809 per sq.ft in 2017. This was followed by a significant increase to Rs 2,700 per sq.ft in 2023, and currently, the value stands at Rs 2,970 per sq.ft as of the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The latest increase from 2023 to 2024 is 10%, resulting in an overall increase of 10% from 2012 to 2024.

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, placing Siva Shankar Nagar above this median.

• Siva Shanmugam Street: Rs 1,650 per sq.ft (2024)
• Sivasakthi Street: Rs 2,310 per sq.ft (2024)
• Siva Sakthi Nagar: Rs 2,310 per sq.ft (2024)
• Sivaraj Street: Rs 1,650 per sq.ft (2024)
• Sorkkam Nagar: Rs 2,640 per sq.ft (2024)
• Spr Kamakshi Avenue: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Shankar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total fees to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Siva Shankar Nagar?

The Sub Registrar Office that covers Siva Shankar Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301., Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perungalathur. It serves as the benchmark for determining the stamp duty and registration fees that are payable when buying or selling property in the area.

When a property is registered, the guideline value helps ensure that the transaction is documented at a fair value, which is necessary for tax purposes. Buyers and sellers should be aware of the current guideline value to accurately assess the costs associated with property transactions.

Frequently asked questions

What is the current guideline value of Siva Shankar Nagar?

The current guideline value of Siva Shankar Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then increased to Rs 2,700 per sq.ft in 2023, and currently stands at Rs 2,970 per sq.ft as of 2024.

What are the other streets in Perungalathur and their guideline values?

Other streets in Perungalathur include Siva Shanmugam Street at Rs 1,650 per sq.ft, Sivasakthi Street and Siva Sakthi Nagar both at Rs 2,310 per sq.ft, Sivaraj Street at Rs 1,650 per sq.ft, Sorkkam Nagar at Rs 2,640 per sq.ft, and Spr Kamakshi Avenue at Rs 3,960 per sq.ft.

What is the registration fee for property in Siva Shankar Nagar?

The registration fee is calculated based on the guideline value. For a property valued at Rs 29,70,000, the registration fee would be Rs 59,400 at a rate of 2%.

Where can I find the Sub Registrar Office for Siva Shankar Nagar?

The Padappai Sub Registrar Office covers Siva Shankar Nagar and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301., Chennai registration zone.