Guideline Value for Sivam Nagar Part -II

Sivam Nagar Part -II guideline value

The current guideline value of Sivam Nagar Part -II is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Navaloor village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Sivam Nagar Part -II has changed

The guideline value for Sivam Nagar Part -II has undergone several revisions over the years. In 2012, the guideline value was set at Rs 500 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 335 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 500 per sq.ft. The most recent revision in 2024 has maintained this value at Rs 500 per sq.ft, indicating no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the only relevant revisions are from 2012, 2017, 2023, and the current 2024 figures.

Guideline values in Navaloor

In Navaloor, there are 26 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,100 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing the guideline value of Sivam Nagar Part -II above this median.

• Sivam Nagar: Rs 450 per sq.ft (2024)
• Sipcot Industries estate: Rs 600 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 450 per sq.ft (2024)
• Sriperumpudur Royal Lands Co-Op Maha Nagar: Rs 610 per sq.ft (2024)
• RPG Metro City: Rs 300 per sq.ft (2024)
• Thirupathi Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivam Nagar Part -II

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty is charged at 7%, resulting in Rs 35,000, and the registration fee at 2% amounts to Rs 10,000. Therefore, the total cost for stamp duty and registration fees together is Rs 45,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivam Nagar Part -II?

The Sub Registrar Office that covers Sivam Nagar Part -II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Navaloor. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for the transfer of ownership. This ensures that the transaction is officially recorded and recognized by the authorities.

Frequently asked questions

What is the current guideline value of Sivam Nagar Part -II?

The current guideline value of Sivam Nagar Part -II is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 500 per sq.ft in 2024, unchanged from 2023. The value decreased from Rs 500 in 2012 to Rs 335 in 2017, before increasing back to Rs 500 in 2023.

What are the guideline values of other streets in Navaloor?

Other streets in Navaloor have varying guideline values ranging from Rs 150 to Rs 1,100 per sq.ft. Notably, Sivam Nagar Part -II's value is above the median value of Rs 300 per sq.ft for the area.

What are the stamp duty and registration fees for property in Sivam Nagar Part -II?

For a 1,000 sq.ft plot at the guideline value of Rs 500 per sq.ft, the total guideline value is Rs 5,00,000. The stamp duty at 7% is Rs 35,000, and the registration fee at 2% is Rs 10,000, totaling Rs 45,000 for both fees.

Where can I find the Sub Registrar Office for Sivam Nagar Part -II?

The Sub Registrar Office for Sivam Nagar Part -II is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information on how to locate your SRO through the provided link.