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 Somangalam village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Sivam Nagar has changed

Looking at the revisions over the years, the guideline value for Sivam Nagar was Rs 200 per sq.ft in both the 2023 and 2024 revisions, reflecting no change between these two years. In the 2017 revision, the value was Rs 134 per sq.ft, indicating a significant increase of 49% to reach the 2023 figure. The 2012 revision also listed the value as Rs 200 per sq.ft, which represents a decrease of 33% from the 2017 figure.

Overall, comparing the 2012 revision to the 2024 revision, there has been no change in the guideline value, remaining at Rs 200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Somangalam

In Somangalam village, there are 86 streets listed under the Sriperumpudur SRO, with 2024 guideline values ranging from Rs 150 to Rs 800 per sq.ft. The median value for these streets is Rs 350 per sq.ft, placing Sivam Nagar's 2024 figure below this median.

• Sky Avenue: Rs 150 per sq.ft (2024)
• Somangalam Main Road: Rs 500 per sq.ft (2024)
• Sri Amman Garden: Rs 250 per sq.ft (2024)
• Sengunthar street: Rs 250 per sq.ft (2024)
• Selliamman Nagar: Rs 400 per sq.ft (2024)
• Sri City: Rs 350 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 amounts to Rs 2,00,000. The stamp duty charged at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, leading to a total cost of Rs 18,000. 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 Sivam Nagar?

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

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

The guideline value is an essential factor during property registration in Somangalam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property transaction occurs.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property dealings within the region.

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 significant increase from Rs 134 per sq.ft in 2017. There was no change between the 2023 and 2024 revisions.

What is the land classification of Sivam Nagar?

Sivam Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

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

How is the stamp duty calculated for properties in Sivam Nagar?

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 guideline value of Rs 200 per sq.ft would incur a stamp duty of Rs 14,000.