Guideline Value for Sivam Nagar

Sivam Nagar guideline value

The current guideline value of Sivam Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Sivam Nagar has changed

Over the years, the guideline value for Sivam Nagar has seen several revisions. The register shows no figures for the years 2002, 2003, and 2007. In 2012, the guideline value was Rs 200 per sq.ft, which remained unchanged in the following revision in 2017 when it dropped to Rs 134 per sq.ft. However, from 2017 to 2023, it increased by 49% to Rs 200 per sq.ft, and this value has been maintained in the 2024 revision.

Overall, from 2012 to 2024, the guideline value has seen no change, remaining at Rs 200 per sq.ft. The 2024 revision shows that the value has not changed from the previous year, indicating a stable guideline value in recent times.

Guideline values in Kolathur

In Kolathur, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,300 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value of Sivam Nagar is below this median.

• Siva Garden: Rs 250 per sq.ft (2024)
• S.M. Nagar: Rs 300 per sq.ft (2024)
• Sri City: Rs 300 per sq.ft (2024)
• Seenivasa Nagar: Rs 250 per sq.ft (2024)
• Seelam Nagar: Rs 200 per sq.ft (2024)
• Sathyam Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sivam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total cost for these fees Rs 18,000. It is important 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?

The Sub Registrar Office that covers Sivam Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the property transfer. This helps maintain transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Sivam Nagar?

The current guideline value of Sivam Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a notable increase of 49% from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

What are the other streets in Kolathur and their guideline values?

Other streets in Kolathur include Siva Garden at Rs 250 per sq.ft, S.M. Nagar and Sri City at Rs 300 per sq.ft, Seenivasa Nagar and Seelam Nagar at Rs 250 and Rs 200 per sq.ft respectively, and Sathyam Nagar at Rs 200 per sq.ft.

What are the fees associated with buying property in Sivam Nagar?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 18,000.

Where is the Sub Registrar Office for Sivam Nagar located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.