Guideline Value for Siva-Vishnu Nagar

Siva-Vishnu Nagar guideline value

The current guideline value of Siva-Vishnu Nagar is Rs 1,102 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Siva-Vishnu Nagar has changed

The guideline value for Siva-Vishnu Nagar has seen several revisions over the years. In 2002, the value was Rs 709 per sq.ft, which then decreased to Rs 72 per sq.ft in 2003. Following this, the value increased significantly to Rs 200 per sq.ft in 2007, then to Rs 700 per sq.ft in 2012. The value dropped to Rs 469 per sq.ft in 2017, before rising to Rs 1,000 per sq.ft in 2023. The latest revision in 2024 reflects a further increase to Rs 1,102 per sq.ft.

Examining the changes between these revisions, the value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a notable increase of 113%. However, the value decreased by 33% from 2012 to 2017. The jump from 2007 to 2012 was substantial at 250%, and from 2003 to 2007, it rose by 178%. The overall change from 2002 to 2024 shows an increase of 55%.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO with a 2024 guideline value range from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, placing Siva-Vishnu Nagar at this median value.

• Sivaraj Street: Rs 1,650 per sq.ft (2024)
• Sivaraj Main Road: Rs 1,650 per sq.ft (2024)
• Sivaraj first Street: Rs 1,650 per sq.ft (2024)
• Sivaraj First Lane: Rs 1,650 per sq.ft (2024)
• Sivaraj 3rd Lane: Rs 1,650 per sq.ft (2024)
• Sivaraj 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Siva-Vishnu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,102 per sq.ft, the total guideline value amounts to Rs 11,02,000. The stamp duty at 7% would be Rs 77,140, and the registration fee at 2% would be Rs 22,040, bringing the total charges to Rs 99,180. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Siva-Vishnu Nagar?

The Sub Registrar Office that covers Siva-Vishnu Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

When buying or selling property in Puzhal, the guideline value plays a crucial role in determining the stamp duty and registration fees applicable to the transaction. The guideline value is set by the government and is used as a basis for calculating these charges, ensuring that they reflect the property's assessed worth.

At the time of registration, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is officially recorded and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Siva-Vishnu Nagar?

The current guideline value of Siva-Vishnu Nagar is Rs 1,102 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 709 per sq.ft in 2002 to Rs 1,102 per sq.ft in 2024, with various increases and decreases along the way.

What is the land classification of Siva-Vishnu Nagar?

Siva-Vishnu Nagar is classified as Residential Class III Type - I.

Where is the Sub Registrar Office for Siva-Vishnu Nagar located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total charges amount to Rs 99,180.