Guideline Value for Sivagami Nagar 1st Cross Street

Sivagami Nagar 1st Cross Street guideline value

The current guideline value of Sivagami Nagar 1st Cross Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village under the Selaiyur SRO, and the land classification is Residential Special Type - II.

How the guideline value of Sivagami Nagar 1st Cross Street has changed

The guideline value for Sivagami Nagar 1st Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, which is an increase from Rs 1,500 per sq.ft in 2023, representing a 7% rise. Prior to that, in 2017, the value was Rs 1,005 per sq.ft, indicating a substantial increase of 49% from that year to 2023. The 2012 revision also recorded a value of Rs 1,500 per sq.ft, which shows a decrease of 33% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 7%.

It is important to note that there are no recorded figures for the revisions in 2002, 2003, and 2007 for this street. The 2012 and 2017 revisions show significant changes, while the 2024 figure reflects the most current valuation.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a guideline value for 2024, with values ranging from Rs 840 to Rs 3,750 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing the 2024 guideline value of Sivagami Nagar 1st Cross Street below this median.

• Sivagami Nagar 1st Street: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar 2nd Cross Street: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar Anna Street & Extn: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar Bharathiyar Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sivagami Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty, charged at 7%, would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, the total cost for stamp duty and registration fees would be Rs 1,44,000. It is important to note that the 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 Nagar 1st Cross Street?

The Sub Registrar Office that covers Sivagami Nagar 1st Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Gowrivakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

When engaging in a property transaction, it is essential to be aware of the current guideline value, as it can affect the overall cost of the property. Buyers should ensure that they are informed about the latest revisions to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sivagami Nagar 1st Cross Street?

The current guideline value of Sivagami Nagar 1st Cross Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Sivagami Nagar 1st Cross Street?

The land classification for Sivagami Nagar 1st Cross Street is Residential Special Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Sivagami Nagar 1st Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 16,00,000, leading to a stamp duty of Rs 1,12,000.