Guideline Value for Sivalingam Street (Vetri Nagar)

Sivalingam Street (Vetri Nagar) guideline value

The current guideline value of Sivalingam Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the jurisdiction of the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Sivalingam Street (Vetri Nagar) has changed

The guideline value for Sivalingam Street (Vetri Nagar) has seen several revisions over the years. Starting from Rs 360 per sq.ft in 2002, it increased to Rs 572 per sq.ft in 2003, marking a 59% rise. The value then rose significantly to Rs 1,000 per sq.ft in 2007, reflecting a 75% increase. Following this, the value surged to Rs 3,000 per sq.ft in 2012, which was a 200% increase. However, it dropped to Rs 2,010 per sq.ft in 2017, showing a decrease of 33%. The value then climbed to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,301 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, the guideline value has increased by 817% from 2002 to 2024. There are no figures available for the revisions in years not mentioned in the provided data.

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the guideline value of Sivalingam Street (Vetri Nagar) for 2024.

• Sivalingam Road 5th Cross Street: Rs 2,400 per sq.ft (2024)
• Sivalingam Road 4th Cross Street: Rs 2,400 per sq.ft (2024)
• Sivalingam Road 3rd Cross Street: Rs 2,400 per sq.ft (2024)
• Sivalingam Road 2nd Cross Street: Rs 2,400 per sq.ft (2024)
• Sivalingam Road 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Sivaprakasam Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Sivalingam Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, resulting in a total of Rs 2,97,090. 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 precise calculations.

Which Sub Registrar Office covers Sivalingam Street (Vetri Nagar)?

The Sivalingam Street (Vetri Nagar) falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Peravallur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers should be aware that the guideline value is a reference point for the legal value of the property.

When registering a property, the guideline value must be considered, as it directly influences the costs involved in the transaction. It is crucial for both parties to understand this value to ensure compliance with local regulations during the sale process.

Frequently asked questions

What is the current guideline value of Sivalingam Street (Vetri Nagar)?

The current guideline value of Sivalingam Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 360 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 817% over this period.

What is the land classification of Sivalingam Street (Vetri Nagar)?

Sivalingam Street (Vetri Nagar) is classified as Residential Special Type - II.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Sivalingam Street (Vetri Nagar)?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,31,070.