Guideline Value for Sivan Koil North Mada Veethi

Sivan Koil North Mada Veethi guideline value

The current guideline value of Sivan Koil North Mada Veethi is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Mannivakkam village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Sivan Koil North Mada Veethi has changed

The guideline value for Sivan Koil North Mada Veethi has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 900 per sq.ft. In 2017, it decreased to Rs 603 per sq.ft, marking a decline of 33%. However, by 2023, the value increased to Rs 900 per sq.ft again, and in the latest 2024 revision, it has risen to Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a total increase of 10%. The register does not have figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft. The median value among these streets is Rs 1,215 per sq.ft, making the guideline value of Sivan Koil North Mada Veethi below this median.

• Sivan Koil East Mada Veethi: Rs 990 per sq.ft (2024)
• Sivan Koil South Mada Veethi: Rs 990 per sq.ft (2024)
• Sivan Koil West Mada Veethi: Rs 990 per sq.ft (2024)
• Sivapriya Avenue: Rs 990 per sq.ft (2024)
• Singaram Nagar: Rs 1,320 per sq.ft (2024)
• Sindhu Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sivan Koil North Mada Veethi

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, making the total cost for these fees Rs 89,100. Duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivan Koil North Mada Veethi?

The Sub Registrar Office that covers Sivan Koil North Mada Veethi is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property. The higher of the guideline value or the sale price is used to calculate these fees.

When selling property, the guideline value also plays an important role, as it helps establish a fair pricing structure for transactions. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Sivan Koil North Mada Veethi?

The current guideline value of Sivan Koil North Mada Veethi is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Sivan Koil North Mada Veethi?

Sivan Koil North Mada Veethi is classified as Residential Special Type - II.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sivan Koil North Mada Veethi?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 89,100, including both stamp duty and registration fees.