Guideline Value for Sivajothi Nagar

Sivajothi Nagar guideline value

The current guideline value of Sivajothi Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This locality is part of Mudichur village and falls under the Padappai SRO with a land classification of Residential Class II Type - I.

How the guideline value of Sivajothi Nagar has changed

The guideline value for Sivajothi Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 100 per sq.ft. This increased significantly to Rs 1,100 per sq.ft in 2012, marking a 1000% increase. However, in 2017, it dropped to Rs 737 per sq.ft, a decrease of 33%. The value then rose to Rs 1,100 per sq.ft in 2023, followed by a further increase to Rs 1,210 per sq.ft in the 2024 revision, which represents a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 1110%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Sivajothi Nagar's 2024 figure below that median.

• Sivavishnu Nagar: Rs 2,200 per sq.ft (2024)
• S.K.Avenue: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar: Rs 2,200 per sq.ft (2024)
• Sree Balaji Nagar: Rs 2,200 per sq.ft (2024)
• Seshadri Avenue: Rs 3,630 per sq.ft (2024)
• Senthil Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sivajothi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total cost to Rs 1,08,900. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivajothi Nagar?

The Sub Registrar Office covering Sivajothi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mudichur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in government records.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivajothi Nagar?

The current guideline value of Sivajothi Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 100 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, marking an overall increase of 1110% over the years.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 84,700, and the registration fee is Rs 24,200, totaling Rs 1,08,900.

Which Sub Registrar Office covers Sivajothi Nagar?

The Padappai Sub Registrar Office covers Sivajothi Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees when buying or selling property. It is compared with the sale price, and the higher value is used for calculating the applicable duties.