Guideline Value for Sivaji Street

Sivaji Street guideline value

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

How the guideline value of Sivaji Street has changed

Since the 2017 revision, the guideline value for Sivaji Street has seen a significant increase. The 2017 revision recorded a guideline value of Rs 268 per sq.ft, which remained unchanged at Rs 400 per sq.ft in the 2023 revision. The latest 2024 revision also maintains this value at Rs 400 per sq.ft, indicating no change from the previous year.

Between the 2017 and 2024 revisions, the overall increase in the guideline value is 49%. Notably, there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Irunkattukottai_B

In Irunkattukottai_B, there are 54 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, which aligns with the guideline value of Sivaji Street.

• 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, and the registration fee at 2% would be Rs 8,000, leading to a total of Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more calculations.

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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Irunkattukottai_B. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that both parties are aware of the financial obligations involved.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is transparent and standardized across the region.

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?

Since the 2017 revision, the guideline value has increased by 49%, remaining at Rs 400 per sq.ft in both the 2023 and 2024 revisions. The 2017 figure was Rs 268 per sq.ft.

What are the guideline values for other streets in Irunkattukottai_B?

In Irunkattukottai_B, the guideline values for other streets range from Rs 250 to Rs 1,200 per sq.ft, with the median value being Rs 400 per sq.ft. Sivaji Street's guideline value matches this median.

What is the stamp duty rate for properties in Sivaji Street?

The stamp duty rate for properties in Sivaji Street is 7% of the guideline value or sale price, whichever is higher. This is part of the overall registration costs when purchasing property.

Where can I find the Sub Registrar Office for Sivaji Street?

The Sub Registrar Office for Sivaji Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more details through the provided link.