Guideline Value for Sivagami Nagar

Sivagami Nagar guideline value

The current guideline value of Sivagami Nagar, located in Madipakkam-1 village under the Velacheri SRO, is Rs 3,850 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Sivagami Nagar has changed

The guideline value for Sivagami Nagar has undergone significant changes over the years. In the 2017 revision, the guideline value was set at Rs 2,345 per sq.ft. With the latest revision in 2024, the value increased to Rs 3,850 per sq.ft, marking a change of +64% from the previous figure.

There are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street. Therefore, the only available revisions are from 2017 and 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Sivagami Nagar is above this median.

• Sivagami 1st Street,Periyar Nagar: Rs 3,850 per sq.ft (2024)
• Sivamurugan Avenue: Rs 1,650 per sq.ft (2024)
• Sivaprakasa Nagar: Rs 3,850 per sq.ft (2024)
• Sivaprakasa Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Sivaprakasa Nagar 1st Main Road: Rs 3,850 per sq.ft (2024)
• Sivaprakasa Nagar 1st Street: Rs 3,850 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total costs together to Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivagami Nagar?

The Sub Registrar Office that covers Sivagami Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps determine the legal obligations for both parties. It is essential to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Sivagami Nagar?

The current guideline value of Sivagami Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft, representing a change of +64%.

Are there any revisions without figures for Sivagami Nagar?

Yes, the register has no figures for the revisions in 2023, 2012, 2007, 2003, and 2002 for Sivagami Nagar.

What are the stamp duty and registration fees for property in Sivagami Nagar?

For a 1,000 sq.ft plot, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500 based on the current guideline value.

Where is the Sub Registrar Office for Sivagami Nagar located?

The Sub Registrar Office for Sivagami Nagar is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.