Guideline Value for SivaVishnu Nagar 2nd Street

SivaVishnu Nagar 2nd Street guideline value

The current guideline value of SivaVishnu Nagar 2nd Street is Rs 2,090 per sq.ft, effective from 1 July 2024. This street is located in Kunrathour-B village, under the Kunrathur SRO, and is classified as Mixed Special Type - II.

How the guideline value of SivaVishnu Nagar 2nd Street has changed

The guideline value for SivaVishnu Nagar 2nd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,090 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 1,900 per sq.ft. Prior to that, in 2017, the guideline value was Rs 1,273 per sq.ft, reflecting a significant increase of 49% to the 2023 figure. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This consistent rise in value indicates a change in the property landscape of the area, with the current value being substantially higher than previous years.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, placing SivaVishnu Nagar 2nd Street's 2024 figure above that median.

• SivaVishnu Nagar 1st Street: Rs 2,090 per sq.ft (2024)
• SivaVishnu Nagar 3rd Street: Rs 2,090 per sq.ft (2024)
• Sivam Nagar: Rs 3,910 per sq.ft (2024)
• Sivalingam Nagar: Rs 2,420 per sq.ft (2024)
• South Street: Rs 2,090 per sq.ft (2024)
• Sri Arunachaleshwarar Nagar: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in SivaVishnu Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty, calculated at 7%, would be Rs 1,46,300, while the registration fee at 2% would be Rs 41,800. Together, these fees would total Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SivaVishnu Nagar 2nd Street?

The SivaVishnu Nagar 2nd Street is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is a crucial factor during the registration process when buying or selling property in Kunrathour-B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that transactions are conducted transparently and fairly.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the state collects appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of SivaVishnu Nagar 2nd Street?

The current guideline value of SivaVishnu Nagar 2nd Street is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,273 per sq.ft in 2017 to Rs 2,090 per sq.ft in 2024, marking an overall increase of 64%. The 2023 revision was Rs 1,900 per sq.ft, showing a 10% increase to the current value.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot, the total guideline value is Rs 20,90,000. The stamp duty at 7% is Rs 1,46,300, and the registration fee at 2% is Rs 41,800, totaling Rs 1,88,100.

Which office handles registrations for SivaVishnu Nagar 2nd Street?

The Kunrathur Sub Registrar Office handles registrations for SivaVishnu Nagar 2nd Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of SivaVishnu Nagar 2nd Street?

SivaVishnu Nagar 2nd Street is classified as Mixed Special Type - II, indicating its diverse usage potential within the area.