Guideline Value for Sivagnanam Street

Sivagnanam Street guideline value

The current guideline value of Sivagnanam Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, which falls under the Selaiyur SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Sivagnanam Street has changed

The guideline value for Sivagnanam Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, but then dropped to Rs 670 per sq.ft in 2017. The 2023 revision marked an increase to Rs 1,000 per sq.ft, and the current value is Rs 1,100 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, significant changes were observed. The guideline value increased by 67% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The latest increase from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 83%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the 2024 guideline value of Sivagnanam Street below this median.

• Sivagami Ammal Street: Rs 950 per sq.ft (2024)
• Sivan Street: Rs 1,400 per sq.ft (2024)
• Soloman Street: Rs 2,400 per sq.ft (2024)
• Soloman Street 1st Lane: Rs 2,400 per sq.ft (2024)
• Soloman Street 1st Street: Rs 2,400 per sq.ft (2024)
• Soloman Street Extn: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sivagnanam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, leading to a total of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivagnanam Street?

The Sub Registrar Office covering Sivagnanam Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in Selaiyur.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and tax purposes. Buyers and sellers should always refer to the latest guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Sivagnanam Street?

The current guideline value of Sivagnanam Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What are the stamp duty and registration fees for properties in Sivagnanam Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles the registration for Sivagnanam Street?

The Selaiyur Sub Registrar Office handles the registration for Sivagnanam Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Sivagnanam Street?

The land classification for Sivagnanam Street is Residential Class IV Type - I.