Guideline Value for Sivam Enclave Meenambal Street

Sivam Enclave Meenambal Street guideline value

The current guideline value of Sivam Enclave Meenambal Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sivam Enclave Meenambal Street has changed

The guideline value for Sivam Enclave Meenambal Street has seen several revisions over the years. The oldest recorded revision was in 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, the value increased to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, reflecting a rise of 10% from the previous year.

From 2017 to 2023, the guideline value rose significantly by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Sivam Enclave Meenambal Street's 2024 value below this median.

• Sivanantham Colony: Rs 5,500 per sq.ft (2024)
• Sivanantham Street: Rs 5,500 per sq.ft (2024)
• Sivagami nagar: Rs 1,320 per sq.ft (2024)
• Sivaraj Street: Rs 2,200 per sq.ft (2024)
• Sivaraj Street 1st Junction: Rs 2,200 per sq.ft (2024)
• Siva Shanmugam Pillai Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sivam Enclave Meenambal 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 at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sivam Enclave Meenambal Street?

The Sub Registrar Office that covers Sivam Enclave Meenambal Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Tambaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government collects appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property, which can influence negotiations and final sale prices. It is essential to refer to the latest guideline values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Sivam Enclave Meenambal Street?

The current guideline value of Sivam Enclave Meenambal 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 has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for this street?

Sivam Enclave Meenambal Street is classified as Residential Class I Type - II.

Where can I find the SRO for this street?

The Sub Registrar Office for Sivam Enclave Meenambal Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,54,000.