Guideline Value for Sivagami Nagar

Sivagami Nagar guideline value

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

How the guideline value of Sivagami Nagar has changed

The guideline value for Sivagami Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft as of the 2024 revision. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. The change from 2023 to 2024 reflects a 7% increase. 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, with a median value of Rs 2,200 per sq.ft. The guideline value of Rs 1,600 per sq.ft for Sivagami Nagar is below this median.

• Sivagami Nagar 1st Cross Street: Rs 1,600 per sq.ft (2024)
• 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 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value is Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total 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 details.

Which Sub Registrar Office covers Sivagami Nagar?

The Sub Registrar Office that covers Sivagami Nagar 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 registering property transactions in Gowrivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as per the government's assessment. This process aids in maintaining transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Sivagami Nagar?

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

How has the guideline value changed over the years?

Over the years, the guideline value has fluctuated, with a notable decrease from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, followed by increases in subsequent revisions.

What is the land classification of Sivagami Nagar?

Sivagami Nagar falls under the land classification of Residential Special Type - II.

What are the other streets in Gowrivakkam with the same guideline value?

Several other streets in Gowrivakkam have the same guideline value of Rs 1,600 per sq.ft for the year 2024, including Sivagami Nagar 1st Cross Street, 1st Street, 2nd Cross Street, and others.

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.