Guideline Value for Sivaji Ganesan Street (S.V. Nagar)

Sivaji Ganesan Street (S.V. Nagar) guideline value

The current guideline value of Sivaji Ganesan Street (S.V. Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sivaji Ganesan Street (S.V. Nagar) has changed

The guideline value for Sivaji Ganesan Street (S.V. Nagar) has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value significantly increased to Rs 1,500 per sq.ft in the 2023 revision, and then to Rs 1,600 per sq.ft in the 2024 revision. The changes between revisions are notable, with a 7% increase from 2023 to 2024 and a substantial 49% increase from 2017 to 2023. Overall, from 2012 to 2024, there has been a 7% increase.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The guideline value remained at Rs 1,500 per sq.ft in 2012, and the fluctuations thereafter highlight the dynamics of property valuation in this area.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO carrying a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Sivaji Ganesan Street (S.V. Nagar) is below this median, indicating its relative position within the locality.

• Sivankoil Street: Rs 1,600 per sq.ft (2024)
• Sir.C.V.Raman Street: Rs 1,600 per sq.ft (2024)
• Singaram Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Singaram Pillai Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Sivaraj Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Sivaraman Street (Ram Nagar): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaji Ganesan Street (S.V. Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, the total cost for these fees would be Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivaji Ganesan Street (S.V. Nagar)?

The Sub Registrar Office that covers Sivaji Ganesan Street (S.V. Nagar) is the Ambattur Sub Registrar Office. The address is Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Oragadam. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value as it directly affects the total cost involved in property transactions.

During the registration, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue based on the property’s assessed value or the agreed sale price.

Frequently asked questions

What is the current guideline value of Sivaji Ganesan Street (S.V. Nagar)?

The current guideline value of Sivaji Ganesan Street (S.V. Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Sivaji Ganesan Street (S.V. Nagar)?

The land classification for Sivaji Ganesan Street (S.V. Nagar) is Residential Class II Type - I.

Which Sub Registrar Office covers this street?

The Ambattur Sub Registrar Office covers Sivaji Ganesan Street (S.V. Nagar). The office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

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 1,000 sq.ft plot at Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000, leading to specific fees based on that value.