Guideline Value for Siva Vishnu Street

Siva Vishnu Street guideline value

The current guideline value of Siva Vishnu Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - II.

How the guideline value of Siva Vishnu Street has changed

Over the years, the guideline value of Siva Vishnu Street has seen significant changes. In the 2007 revision, the value was Rs 620 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in the 2012 revision, marking a rise of 384%. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The 2023 revision saw an increase to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in the 2024 revision, which is a rise of 10%. The register has no figures for the years 2002 and 2003.

From the 2017 revision to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 432%, reflecting the changes in property valuation over the years.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, indicating that Siva Vishnu Street's 2024 guideline value is below this median.

• Somasundar Bharathy Nagar 1st Street: Rs 4,900 per sq.ft (2024)
• Somasundar Bharathy Nagar 2nd Street: Rs 4,900 per sq.ft (2024)
• Somasundar Bharathy Nagar 3rd Street: Rs 4,900 per sq.ft (2024)
• Somasundar Bharathy Nagar 4th Street: Rs 4,900 per sq.ft (2024)
• Somasundar Bharathy Nagar 5th Street: Rs 4,900 per sq.ft (2024)
• Soundara Pandian Salai: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Vishnu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for stamp duty and registration fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Siva Vishnu Street?

The Sub Registrar Office that covers Siva Vishnu Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with registration laws and regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This ensures that all parties involved are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Siva Vishnu Street?

The current guideline value of Siva Vishnu Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 432% over the years.

What is the land classification for Siva Vishnu Street?

Siva Vishnu Street is classified as Residential Class IV Type - II, which indicates its zoning for residential use.

Where can I find the Sub Registrar Office for Siva Vishnu Street?

The Sub Registrar Office for Siva Vishnu Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated for properties in Siva Vishnu Street?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a total of Rs 2,97,000 in fees and duties.