Guideline Value for Sivaji Nagar

Sivaji Nagar guideline value

The current guideline value of Sivaji Nagar, located in Kattupakkam village, is Rs 400 per sq.ft. This value is effective from the 2024 revision, which falls under the Gooduvancheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sivaji Nagar has changed

The guideline value for Sivaji Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 160 per sq.ft. This increased to Rs 400 per sq.ft in 2012, marking a significant rise of 150%. However, in the 2017 revision, the value decreased to Rs 268 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 400 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 value, there has been an increase of 150%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Kattupakkam

In Kattupakkam, there are 27 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, placing Sivaji Nagar's 2024 figure below that median. Here are some other streets in Kattupakkam:

• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• Selvi Nagar Phase- III: Rs 800 per sq.ft (2024)
• Selvi Nagar Phase - II: Rs 672 per sq.ft (2024)
• Selvi Nagar: Rs 672 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 400 per sq.ft (2024)
• Sarvamangala Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty is charged at 7%, totaling Rs 28,000, and the registration fee is 2%, amounting to Rs 8,000. Together, the total fees come to Rs 36,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivaji Nagar?

The Sub Registrar Office that covers Sivaji 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 Kattupakkam

The guideline value is a crucial factor when buying or selling property in Kattupakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected. This helps maintain transparency in property transactions and ensures that both buyers and sellers are informed of their financial obligations.

Frequently asked questions

What is the current guideline value of Sivaji Nagar?

The current guideline value of Sivaji Nagar is Rs 400 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and returned to Rs 400 per sq.ft in both 2023 and 2024.

What is the land classification for Sivaji Nagar?

The land classification for Sivaji Nagar is Residential Class I Type - I, indicating its suitability for residential purposes.

What are the registration fees for property in Sivaji Nagar?

For a property valued at Rs 4,00,000, the stamp duty is Rs 28,000 and the registration fee is Rs 8,000, totaling Rs 36,000.

Where is the Sub Registrar Office for Sivaji Nagar located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.