Guideline Value for Sivagami 2nd Street

Sivagami 2nd Street guideline value

The current guideline value of Sivagami 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO and is classified as Residential Class IV Type - I.

How the guideline value of Sivagami 2nd Street has changed

The guideline value for Sivagami 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and further rose to Rs 2,200 per sq.ft in the latest 2024 revision, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, making the current value of Sivagami 2nd Street below that median.

• Sivagami 2nd Cross Street (Lakshmiamman Nagar): Rs 2,200 per sq.ft (2024)
• Sivagami 1st Street: Rs 2,200 per sq.ft (2024)
• Sivagami 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Singara Mudaliar Nagar / Street: Rs 2,500 per sq.ft (2024)
• Singara Garden 4th Street: Rs 1,900 per sq.ft (2024)
• Singara Garden 3rd Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sivagami 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total cost of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sivagami 2nd Street?

The Sub Registrar Office that covers Sivagami 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Erukancherry, the guideline value is a crucial factor used during the registration process. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

The guideline value serves as a benchmark for property transactions, helping to maintain transparency and fairness in the real estate market. Buyers and sellers should be aware of the current guideline values to make informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Sivagami 2nd Street?

The current guideline value of Sivagami 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 in 2023, and finally to Rs 2,200 in 2024.

What is the median guideline value in Erukancherry?

The median guideline value in Erukancherry is Rs 2,500 per sq.ft, which is higher than the current value of Sivagami 2nd Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office located for Sivagami 2nd Street?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.