Guideline Value for Sivalingam Street

Sivalingam Street guideline value

The current guideline value of Sivalingam Street in Kodungaiyur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Sivalingam Street has changed

The guideline value for Sivalingam Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for Sivalingam Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Sivalingam Street's 2024 figure below this median.

• Sivakami Street: Rs 2,200 per sq.ft (2024)
• Sivakami 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Sivakami 1st Cross 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 Sivalingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivalingam Street?

The Sivalingam Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

When buying or selling property in Kodungaiyur, the guideline value plays a crucial role in determining the stamp duty and registration fees. This value is set by the Registration Department and is used as a benchmark for calculating the costs associated with property transactions.

It is essential to be aware that the guideline value may differ from the actual sale price. However, the registration fees and stamp duty will be calculated based on the higher of the two values, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivalingam Street?

The current guideline value of Sivalingam 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 for Sivalingam Street was Rs 2,000 per sq.ft in 2012 and remained the same in 2023. It increased to Rs 2,200 per sq.ft in 2024, marking a 10% rise from the previous year.

What are the guideline values for other streets in Kodungaiyur?

Other streets in Kodungaiyur have varying guideline values, with rates ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in the area is Rs 2,700 per sq.ft.

What is the stamp duty rate for property transactions in Sivalingam Street?

The stamp duty rate for property transactions in Sivalingam Street is 7% of the guideline value or sale price, whichever is higher.

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

The Madhavaram Sub Registrar Office covers Sivalingam Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.