Guideline Value for Sivakami 1st Cross Street

Sivakami 1st Cross Street guideline value

The current guideline value of Sivakami 1st Cross Street is Rs 2,200 per sq.ft. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sivakami 1st Cross Street has changed

The guideline value for Sivakami 1st Cross Street has undergone revisions over the years. In the 2012 revision, the value was Rs 2,000 per sq.ft. From 2012 to the 2024 revision, the guideline value increased by 10%, bringing the current rate to Rs 2,200 per sq.ft, effective from 1 July 2024. The register has no figure for this street for the years 2023, 2017, 2007, 2003, and 2002.

To summarize the changes, the value increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024. This change reflects the only registered revision for this street in the given period.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Sivakami 1st Cross Street is below this median.

• Sivakami 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Sivakami Street: Rs 2,200 per sq.ft (2024)
• Sivalingam Street: Rs 2,200 per sq.ft (2024)
• Sivaraj Street (Meenambal Salai): Rs 2,200 per sq.ft (2024)
• Sivasankaran Street: Rs 2,700 per sq.ft (2024)
• Sidco Main Road (Vivekananda Nagar): Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Sivakami 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. Please note that 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 details.

Which Sub Registrar Office covers Sivakami 1st Cross Street?

The Sub Registrar Office that covers Sivakami 1st Cross Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Kodungaiyur, the guideline value is a crucial factor in determining the stamp duty and registration fees. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

It is important for buyers and sellers to be aware of the guideline value as it affects the overall cost of property transactions. Understanding the guideline value helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Sivakami 1st Cross Street?

The current guideline value of Sivakami 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002.

What is the land classification of Sivakami 1st Cross Street?

Sivakami 1st Cross Street is classified as Residential Class II Type - I. This classification is important for determining the guideline value and applicable regulations.

What are the stamp duty and registration fees for property in Sivakami 1st Cross Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000 for these fees.

Which office handles property registrations for Sivakami 1st Cross Street?

The Madhavaram Sub Registrar Office handles property registrations for Sivakami 1st Cross Street. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.