Guideline Value for Sivagami Nagar Bharathiyar Street

Sivagami Nagar Bharathiyar Street guideline value

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

How the guideline value of Sivagami Nagar Bharathiyar Street has changed

The guideline value for Sivagami Nagar Bharathiyar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which changed to Rs 1,005 per sq.ft in the 2017 revision. This was a decrease of 33%. The 2023 revision increased the value to Rs 1,500 per sq.ft, followed by the current 2024 revision, which raised it to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO, with guideline values ranging from Rs 840 to Rs 3,750 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, which means that the current guideline value of Rs 1,600 per sq.ft for Sivagami Nagar Bharathiyar Street is below the median.

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

Stamp duty and registration fee for property in Sivagami Nagar Bharathiyar 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, charged at 7%, would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to 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. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sivagami Nagar Bharathiyar Street?

The Sub Registrar Office that covers Sivagami Nagar Bharathiyar 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 details.

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

The guideline value plays a crucial role during the registration of 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 is used to calculate the applicable stamp duty and registration fees, which are essential for completing the legal transfer of property ownership. Buyers should be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sivagami Nagar Bharathiyar Street?

The current guideline value of Sivagami Nagar Bharathiyar 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 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 Bharathiyar Street?

The land classification for Sivagami Nagar Bharathiyar Street is Residential Special Type - II.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles registrations for properties in Sivagami Nagar Bharathiyar Street?

The Selaiyur Sub Registrar Office handles registrations for properties in Sivagami Nagar Bharathiyar Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.