Guideline Value for Sivaji Nagar

Sivaji Nagar guideline value

The current guideline value of Sivaji Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Sivaji Nagar has changed

In the 2002 revision, the guideline value was Rs 220 per sq.ft. This figure increased to Rs 251 per sq.ft in 2003, marking a 14% rise. The next significant change occurred in 2007, when the value jumped to Rs 900 per sq.ft, reflecting a 259% increase. Following this, the 2012 revision saw the value rise to Rs 3,500 per sq.ft, which was a remarkable 289% increase from the previous figure.

In 2017, the guideline value experienced a decrease to Rs 2,345 per sq.ft, a drop of 33%. However, this was followed by an increase in 2023 to Rs 3,500 per sq.ft. The most recent revision in 2024 has set the value at Rs 3,900 per sq.ft, representing an 11% increase from the previous year. The overall change from 2002 to 2024 is an increase of 1,673%.

Guideline values in Adambakkam

Adambakkam has a total of 569 streets under the Alandur SRO with guideline values for 2024 ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is the same as the guideline value for Sivaji Nagar.

• Sitco Nagar: Rs 3,900 per sq.ft (2024)
• South Inner ring road (MRTS 100 Feet Road): Rs 3,900 per sq.ft (2024)
• South Main 2nd Street: Rs 2,800 per sq.ft (2024)
• South Main 3rd Street: Rs 2,800 per sq.ft (2024)
• South Main First Street: Rs 3,900 per sq.ft (2024)
• South Main Road 1st Lane: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaji Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. 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 Sivaji Nagar?

The Sub Registrar Office that covers Sivaji Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Adambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during the sale or purchase of property.

When buying or selling property, the guideline value is considered to ensure that the transaction is recorded accurately. It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sivaji Nagar?

The current guideline value of Sivaji Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 220 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,673% over this period.

What are the stamp duty and registration fees for a property in Sivaji Nagar?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations in Sivaji Nagar?

The Alandur Sub Registrar Office handles property registrations in Sivaji Nagar, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Sivaji Nagar?

Sivaji Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.