Guideline Value for Sivagami Nagar Gandhi Street & Extn

Sivagami Nagar Gandhi Street & Extn guideline value

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

How the guideline value of Sivagami Nagar Gandhi Street & Extn has changed

Over the years, the guideline value for Sivagami Nagar Gandhi Street & Extn has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the value to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

In terms of percentage changes, the guideline value rose by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register does not have figures for the years 2002, 2003, or 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 guideline value for these streets is Rs 2,200 per sq.ft, making the current value of Sivagami Nagar Gandhi Street & Extn below this median.

• Sivagami Nagar E.V.R Street: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar Kamarajar Street: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar Bharathiyar Street: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar Pirathana salai: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar Anna Street & Extn: Rs 1,600 per sq.ft (2024)

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

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 at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total charges to Rs 1,44,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Sivagami Nagar Gandhi Street & Extn?

The Sivagami Nagar Gandhi Street & Extn is covered by 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 is a crucial factor during the registration process of property transactions in Gowrivakkam. It serves as a baseline for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that they are informed about the guideline value to avoid any unexpected charges during the registration process.

Frequently asked questions

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

The current guideline value of Sivagami Nagar Gandhi Street & Extn 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 Gandhi Street & Extn?

Sivagami Nagar Gandhi Street & Extn falls under the Residential Special Type - II land classification.

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 Gandhi Street & Extn?

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 would be Rs 1,12,000 at a rate of 7%.