Guideline Value for Sivagami Street

Sivagami Street guideline value

The current guideline value of Sivagami Street in Siruvallur village, under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Sivagami Street has changed

Since the year 2002, the guideline value of Sivagami Street has seen several revisions. In 2002, the value was Rs 429 per sq.ft, which increased to Rs 471 per sq.ft in 2003. The next significant jump occurred in 2007, where the value was revised to Rs 1,000 per sq.ft, marking an increase of 112%. Following this, in 2012, the value was Rs 2,500 per sq.ft, reflecting a 150% rise from the previous revision. However, in 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The most recent revisions show a significant increase, with the value rising to Rs 2,500 per sq.ft in 2023 and then to Rs 2,700 per sq.ft in 2024, which is an 8% increase.

Overall, from 2002 to 2024, the guideline value has increased by 529%. There are no figures available for the revisions in the years not listed in the register.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 1,900 per sq.ft, positioning Sivagami Street's current value above that median.

• Sivagami Amman Street: Rs 1,900 per sq.ft (2024)
• Siruvallur Road Beer Shop Lane: Rs 1,900 per sq.ft (2024)
• Siruvallur High Road: Rs 3,900 per sq.ft (2024)
• Soma Ramasamy 1st Street: Rs 1,900 per sq.ft (2024)
• Soma Ramasamy 2nd Street: Rs 1,900 per sq.ft (2024)
• Soma Ramasamy Main Road: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sivagami Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sivagami Street?

The Sub Registrar Office that covers Sivagami Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

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

When a property is sold, the higher amount between the guideline value and the sale price is considered for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivagami Street?

The current guideline value of Sivagami Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024. Overall, from 2002 to 2024, the value has increased by 529%.

What is the land classification for Sivagami Street?

Sivagami Street is classified as Residential Class II Type - I. This classification can impact the types of developments allowed in the area.

Where can I find the Sub Registrar Office for Sivagami Street?

The Sembiam Sub Registrar Office covers Sivagami Street and is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current rate, the total fees would amount to Rs 2,43,000.