Guideline Value for Sivagami Nagar Main Road

Sivagami Nagar Main Road guideline value

The current guideline value of Sivagami Nagar Main Road is Rs 1,600 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for Sivagami Nagar Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,500 per sq.ft, and in the latest 2024 revision, it has further increased by 7% to Rs 1,600 per sq.ft.

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 that carry a 2024 guideline value 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, indicating that the guideline value for Sivagami Nagar Main Road is below this median.

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

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, making the total fees Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivagami Nagar Main Road?

The Sub Registrar Office that covers Sivagami Nagar Main Road 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 in property transactions in Gowrivakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate applicable fees, including stamp duty and registration charges. It is essential to be aware of the current guideline value to avoid any discrepancies during property transactions.

Frequently asked questions

What is the current guideline value of Sivagami Nagar Main Road?

The current guideline value of Sivagami Nagar Main Road 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 Main Road?

The land classification for Sivagami Nagar Main Road is Residential Special Type - II.

Where is the Selaiyur Sub Registrar Office located?

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 property transactions?

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