Guideline Value for Sivagami Nagar

Sivagami Nagar guideline value

The current guideline value of Sivagami Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village and falls under the Padappai SRO, classified as Residential Class III Type - I.

How the guideline value of Sivagami Nagar has changed

The guideline value for Sivagami Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 120 per sq.ft, which saw a significant increase to Rs 900 per sq.ft in the 2012 revision. However, there was a decrease to Rs 603 per sq.ft in the 2017 revision. The 2023 revision marked a rise to Rs 900 per sq.ft, followed by the current 2024 revision at Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 725%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Sivagami Nagar is below this median.

• Singaravelan Nagar: Rs 1,650 per sq.ft (2024)
• Singara Nagar: Rs 1,100 per sq.ft (2024)
• Silvermist Avenue: Rs 1,650 per sq.ft (2024)
• Shriram Nagar Extension: Rs 1,650 per sq.ft (2024)
• Shri Kishanlal Avenue: Rs 3,300 per sq.ft (2024)
• Shobha Queens Land: Rs 2,960 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 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and 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 covering Sivagami Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sivagami Nagar?

The current guideline value of Sivagami Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting a total increase of 725% over the years.

What are the registration fees for property in Sivagami Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office manages property registrations in Sivagami Nagar?

The Padappai Sub Registrar Office manages property registrations in Sivagami Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees that must be paid. The higher value between the guideline value and the sale price is used to calculate these fees during registration.