Guideline Value for Sivagami Amman Street

Sivagami Amman Street guideline value

The current guideline value of Sivagami Amman Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village, under the Sembiam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sivagami Amman Street has changed

Over the years, the guideline value of Sivagami Amman Street has seen several revisions. In 2002, the guideline value was Rs 429 per sq.ft. This increased to Rs 471 per sq.ft in 2003, marking a 10% rise. The value continued to rise significantly, reaching Rs 1,000 per sq.ft in 2007, which was an increase of 112%. By 2012, the value was Rs 1,800 per sq.ft, reflecting an 80% increase from 2007. However, it saw a decrease of 33% to Rs 1,206 per sq.ft in 2017. The guideline value then rose to Rs 1,800 per sq.ft in 2023, before reaching the current value of Rs 1,900 per sq.ft in 2024, which is a 6% increase.

Overall, from 2002 to 2024, the guideline value has increased by 343%. There are no figures available for any revisions prior to 2002 or after 2024 for this street.

Guideline values in Siruvallur

In Siruvallur village, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, which is equal to the current guideline value of Sivagami Amman Street.

• Sivagami Street: Rs 2,700 per sq.ft (2024)
• Siruvallur Road Beer Shop Lane: Rs 1,900 per sq.ft (2024)
• Siruvallur High Road: Rs 3,900 per sq.ft (2024)
• Soma Ramasamy 1st Street: Rs 1,900 per sq.ft (2024)
• Soma Ramasamy 2nd Street: Rs 1,900 per sq.ft (2024)
• Soma Ramasamy Main Road: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sivagami Amman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that 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 Sivagami Amman Street?

The Sub Registrar Office that covers Sivagami Amman Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial aspect when buying or selling property in Siruvallur. It serves as a benchmark for determining the minimum value at which a property can be registered. The registration process requires that the property be valued at the guideline value or the sale price, whichever is higher.

When conducting a transaction, buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties comply with the legal requirements during the property registration process.

Frequently asked questions

What is the current guideline value of Sivagami Amman Street?

The current guideline value of Sivagami Amman Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 429 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 343% over the years.

What is the land classification of Sivagami Amman Street?

Sivagami Amman Street is classified as Residential Class III Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Sivagami Amman Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,33,000.