Guideline Value for Sivaji Street

Sivaji Street guideline value

The current guideline value of Sivaji Street in Irunkattukottai village is Rs 400 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Sivaji Street has changed

Looking at the historical revisions, the guideline value for Sivaji Street has seen several changes over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2024 revision. Between 2012 and 2017, the value dropped to Rs 268 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, returning to Rs 400 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

In summary, the guideline value remained constant at Rs 400 per sq.ft from 2012 to 2024, despite fluctuations in earlier years. The 2023 revision also recorded the same value of Rs 400 per sq.ft, indicating no change from the previous year.

Guideline values in Irunkattukottai

In Irunkattukottai, there are 56 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 250 to Rs 1,250 per sq.ft, with the median being Rs 400 per sq.ft. The guideline value for Sivaji Street aligns perfectly with this median.

• Sivan Koil Street: Rs 400 per sq.ft (2024)
• Sri Gajalaxmi Nagar: Rs 400 per sq.ft (2024)
• Sri Kamacthi Nagar: Rs 600 per sq.ft (2024)
• Saran Singh Street: Rs 400 per sq.ft (2024)
• Sankar Nagar: Rs 250 per sq.ft (2024)
• Sakthi Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaji Street

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 at 7% would be Rs 28,000, while the registration fee at 2% would be Rs 8,000, bringing the total fees 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 information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivaji Street?

The Sub Registrar Office that covers Sivaji Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

When buying or selling property in Irunkattukottai, the guideline value plays a crucial role during registration. It serves as a baseline for determining the stamp duty and registration fees, ensuring that these costs are calculated fairly based on the property's assessed value.

Additionally, the guideline value is essential for both buyers and sellers to understand the official valuation of the property. It aids in ensuring transparency during transactions and helps in avoiding disputes related to property valuation.

Frequently asked questions

What is the current guideline value of Sivaji Street?

The current guideline value of Sivaji Street is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sivaji Street has remained Rs 400 per sq.ft since 2012, with a notable decrease to Rs 268 per sq.ft in 2017 before returning to Rs 400 per sq.ft in 2023 and 2024.

What is the land classification for Sivaji Street?

Sivaji Street is classified as Residential Class III Type - I, indicating its designation for residential purposes.

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

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000. These fees are based on the guideline value.

Which office handles registrations for Sivaji Street?

The Sriperumpudur Sub Registrar Office handles registrations for Sivaji Street, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.