Guideline Value for Sivam Nagar

Sivam Nagar guideline value

The current guideline value of Sivam Nagar in Navaloor village is Rs 450 per sq.ft, effective from the 2024 revision. This area falls under the Sriperumpudur SRO and is classified as a New House Site Type -II (Unapproved Lay-Out).

How the guideline value of Sivam Nagar has changed

The guideline value for Sivam Nagar has seen several revisions over the years. From the 2012 revision, which was Rs 450 per sq.ft, it dropped to Rs 301 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 450 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

In the most recent revision, effective from 1 July 2024, the guideline value remains unchanged at Rs 450 per sq.ft, reflecting a 0% change from the previous year. Overall, from 2012 to 2024, the guideline value has not changed, maintaining the same rate of Rs 450 per sq.ft.

Guideline values in Navaloor

In Navaloor, there are 26 streets under the Sriperumpudur SRO with 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, indicating that the guideline value of Sivam Nagar is above this median.

• Sivam Nagar Part -II: Rs 500 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

For a 1,000 sq.ft plot at the current guideline value of Rs 450 per sq.ft, the total guideline value amounts to Rs 4,50,000. The stamp duty at 7% would be Rs 31,500, and the registration fee at 2% would be Rs 9,000, resulting in a total of Rs 40,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Navaloor

The guideline value is a critical factor in the registration process when buying or selling property in Navaloor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivam Nagar?

The current guideline value of Sivam Nagar is Rs 450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 450 per sq.ft since 2012, with a drop to Rs 301 per sq.ft in 2017, followed by an increase back to Rs 450 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What is the median guideline value in Navaloor?

The median guideline value for the 26 streets in Navaloor is Rs 300 per sq.ft, with Sivam Nagar's value being above this median.

What are the stamp duty rates for properties in Sivam Nagar?

The stamp duty for properties in Sivam Nagar is charged at 7% of the higher of the guideline value or the sale price. For example, on a property valued at Rs 4,50,000, the stamp duty would be Rs 31,500.

Where is the Sub Registrar Office for Sivam Nagar located?

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