Guideline Value for Sivagami Nagar & Cross Street

Sivagami Nagar & Cross Street guideline value

The current guideline value of Sivagami Nagar & Cross Street in Mamallapuram village is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Thirukazhukundram SRO and is classified as Residential Class V Type - I.

How the guideline value of Sivagami Nagar & Cross Street has changed

The guideline value for Sivagami Nagar & Cross Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 500 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 550 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets under the Thirukazhukundram SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft, with a median value of Rs 935 per sq.ft. The guideline value of Sivagami Nagar & Cross Street is below this median.

• Sothmada Cross Street: Rs 1,320 per sq.ft (2024)
• South Mada Veedhi: Rs 1,215 per sq.ft (2024)
• SCULPTURE Collage 1st Street: Rs 1,330 per sq.ft (2024)
• Rajeev gandhi Street: Rs 825 per sq.ft (2024)
• Thalaiyari Poigai Salai: Rs 825 per sq.ft (2024)
• Thayagam Street: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Sivagami Nagar & Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that the duty is charged based 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 Nagar & Cross Street?

The Sivagami Nagar & Cross Street area is covered by the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mamallapuram. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Sivagami Nagar & Cross Street?

The current guideline value of Sivagami Nagar & Cross Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increasing to Rs 500 per sq.ft in 2023, and finally reaching Rs 550 per sq.ft in 2024.

What is the classification of land in Sivagami Nagar & Cross Street?

The land in Sivagami Nagar & Cross Street is classified as Residential Class V Type - I.

Where can I find the registration office for this area?

The registration office for Sivagami Nagar & Cross Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 38,500.