Guideline Value for Sivagnammal Street

Sivagnammal Street guideline value

The current guideline value of Sivagnammal Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Sivagnammal Street has changed

The guideline value for Sivagnammal Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later reduced to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to Rs 2,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 2,750 per sq.ft, marking a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Nesapakkam

Nesapakkam has a total of 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft as of 2024. The median guideline value in this village is Rs 3,300 per sq.ft, placing Sivagnammal Street's 2024 figure below that median.

• Sri Valli Avenue: Rs 2,750 per sq.ft (2024)
• Sundaramoorthy Kiramani Street: Rs 2,750 per sq.ft (2024)
• Ramapuram Road - Kamarajar Salai: Rs 4,400 per sq.ft (2024)
• Ramapuram Road: Rs 4,400 per sq.ft (2024)
• Ramanujam Pillai Street: Rs 3,300 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivagnammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is important to note that the stamp 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 Sivagnammal Street?

The Sub Registrar Office that covers Sivagnammal Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Nesapakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally recognized.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations associated with property transactions. Accurate knowledge of these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Sivagnammal Street?

The current guideline value of Sivagnammal Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, marking a 10% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What are the other streets in Nesapakkam with similar guideline values?

Other streets in Nesapakkam with a guideline value of Rs 2,750 per sq.ft include Sri Valli Avenue and Sundaramoorthy Kiramani Street. Other streets have higher values, such as Ramapuram Road and Ramapuram Road - Kamarajar Salai.

What fees are associated with buying property on Sivagnammal Street?

When buying property on Sivagnammal Street, buyers should consider the stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 2,47,500 in fees.

Where can I find more information about the Sub Registrar Office?

The Virugambakkam Sub Registrar Office covers Sivagnammal Street and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. More information can be found by visiting the find your SRO page.