Guideline Value for Sivagasinthamani Nagar

Sivagasinthamani Nagar guideline value

The current guideline value of Sivagasinthamani Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Nattarasampattu village and falls under the Gooduvancheri SRO, classified as Residential Class III Type - I.

How the guideline value of Sivagasinthamani Nagar has changed

Over the years, the guideline value for Sivagasinthamani Nagar has seen several revisions. The earliest recorded value in 2007 was Rs 50 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2012. However, the value dropped to Rs 167 per sq.ft in 2017. Following this, the guideline value remained unchanged at Rs 250 per sq.ft in both 2023 and 2024, indicating a 0% change between these two revisions.

From 2007 to 2024, the overall increase in the guideline value is 400%. The revisions for the years 2002 and 2003 do not have recorded figures for this street, indicating no changes were documented during those years.

Guideline values in Nattarasampattu

In Nattarasampattu, there are 24 streets under the Gooduvancheri SRO with 2024 guideline values ranging from Rs 250 to Rs 700 per sq.ft, with a median value of Rs 350 per sq.ft. Sivagasinthamani Nagar's current guideline value is below this median.

• Shri Shanmuga Nagar: Rs 350 per sq.ft (2024)
• Shree Akshara Garden: Rs 700 per sq.ft (2024)
• Seva Nagar: Rs 350 per sq.ft (2024)
• Sri Adhitya Avenue: Rs 350 per sq.ft (2024)
• Subamathi Nagar: Rs 350 per sq.ft (2024)
• S.V.P. Estate Lakshmi Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Sivagasinthamani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total cost for these fees to Rs 22,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivagasinthamani Nagar?

The Sub Registrar Office that covers Sivagasinthamani Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nattarasampattu. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory when registering a property. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to determine the applicable fees, and it is essential to note that these fees are based on the higher of the guideline value or the sale price. This ensures that the government receives the necessary revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivagasinthamani Nagar?

The current guideline value of Sivagasinthamani Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then decreased to Rs 167 per sq.ft in 2017, and remained at Rs 250 per sq.ft in both 2023 and 2024.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 250 per sq.ft, the total fees would be Rs 22,500.

Which office handles property registrations in Sivagasinthamani Nagar?

The Gooduvancheri Sub Registrar Office handles property registrations in Sivagasinthamani Nagar, located on Defence Colony Road, near the Veterinary Hospital, Nanthivaram, Guduvancheri-603202.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees for property transactions. It serves as a reference point for buyers and sellers to ensure compliance with local regulations.