Guideline Value for Sivamurugan Nagar

Sivamurugan Nagar guideline value

The current guideline value of Sivamurugan Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Nandhivaram village, under the Gooduvancheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sivamurugan Nagar has changed

The guideline value for Sivamurugan Nagar has undergone several revisions over the years. In 2002, the value was Rs 45 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007, marking a change of +629%. The value then rose to Rs 1,000 per sq.ft in 2012, reflecting a substantial increase of +205%. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft, a decline of -33%. The value remained at Rs 1,000 per sq.ft from 2017 through 2023, before the latest revision in 2024, which maintained the same rate of Rs 1,000 per sq.ft, resulting in a change of +0%.

It is important to note that there is no figure for Sivamurugan Nagar in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by +2122%.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with guideline values for 2024 ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, placing Sivamurugan Nagar's 2024 figure below this median.

• Siva Avenue: Rs 1,000 per sq.ft (2024)
• Shri Mahalakshmi Nagar: Rs 1,500 per sq.ft (2024)
• Sheela Nagar: Rs 1,000 per sq.ft (2024)
• Sowbakkya Nagar: Rs 1,000 per sq.ft (2024)
• S.R Avenue (S.No.562/22A): Rs 1,000 per sq.ft (2024)
• Sree Kuberan Nagar: Rs 2,345 per sq.ft (2024)

Stamp duty and registration fee for property in Sivamurugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees together to Rs 90,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivamurugan Nagar?

The Sub Registrar Office that covers Sivamurugan Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, 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 Nandhivaram

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

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sivamurugan Nagar?

The current guideline value of Sivamurugan Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, increasing from Rs 45 per sq.ft in 2002 to Rs 1,000 per sq.ft in 2024, which is an overall increase of +2122%.

What is the median guideline value in Nandhivaram?

The median guideline value for streets in Nandhivaram is Rs 1,500 per sq.ft, while Sivamurugan Nagar's value is below this median at Rs 1,000 per sq.ft.

What are the stamp duty and registration fees for property in Sivamurugan Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 90,000, which includes a stamp duty of Rs 70,000 and a registration fee of Rs 20,000.

Which office handles registrations for Sivamurugan Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for Sivamurugan Nagar, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202.