Guideline Value for Sivagami Nagar 2nd Cross Street

Sivagami Nagar 2nd Cross Street guideline value

The current guideline value of Sivagami Nagar 2nd 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 is classified as Residential Special Type - II.

How the guideline value of Sivagami Nagar 2nd Cross Street has changed

The guideline value for Sivagami Nagar 2nd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, when it was set at Rs 1,500 per sq.ft. This figure remained until the next revision in 2017, which saw a decrease to Rs 1,005 per sq.ft, reflecting a decline of 33%. The value then increased significantly to Rs 1,500 per sq.ft in 2023, followed by a further increase to the current rate of Rs 1,600 per sq.ft in 2024, marking a 7% rise.

From 2017 to 2023, the guideline value increased by 49%, while the overall change from 2012 to 2024 shows a modest increase of 7%. It is important to note that the register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Gowrivakkam

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

• Sivagami Nagar 1st Street: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar 1st Cross Street: 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)
• Sivagami Nagar E.V.R Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sivagami Nagar 2nd 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 amounts to Rs 16,00,000. The stamp duty, calculated at 7%, would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, leading to a total cost of 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivagami Nagar 2nd Cross Street?

The Sivagami Nagar 2nd Cross Street falls under the jurisdiction of the Selaiyur Sub Registrar Office. The office is 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 details.

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

The guideline value is a crucial factor when registering property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with property transactions. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of Sivagami Nagar 2nd 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 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Sivagami Nagar 2nd Cross Street?

Sivagami Nagar 2nd Cross Street is classified as 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 2nd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty at 7% would be Rs 1,12,000.