Guideline Value for Sivan Koil Street (South)

Sivan Koil Street (South) guideline value

The current guideline value of Sivan Koil Street (South) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Sivan Koil Street (South) has changed

The guideline value of Sivan Koil Street (South) has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 1,860 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 shows an increase to Rs 6,600 per sq.ft, marking a 10% rise from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 255%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Sivan Koil Street (South) above this median.

• Sivan Koil Street (West): Rs 6,600 per sq.ft (2024)
• Sivanandam Street Block 78: Rs 2,700 per sq.ft (2024)
• Sivanandam Salai: Rs 4,900 per sq.ft (2024)
• Sivalingam Salai: Rs 4,100 per sq.ft (2024)
• Sivaguru Street: Rs 4,100 per sq.ft (2024)
• Sivaganammal Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivan Koil Street (South)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty is charged at 7%, resulting in Rs 4,62,000, and the registration fee at 2% amounts to Rs 1,32,000. Together, the total cost for these fees would be Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sivan Koil Street (South)?

The Sub Registrar Office covering Sivan Koil Street (South) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

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 applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivan Koil Street (South)?

The current guideline value of Sivan Koil Street (South) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,860 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 255%.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Sivan Koil Street (South) being above this median at Rs 6,600 per sq.ft.

What fees are associated with buying property in Sivan Koil Street (South)?

When buying property in Sivan Koil Street (South), the stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sivan Koil Street (South)?

The Ashok Nagar Sub Registrar Office covers Sivan Koil Street (South) and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.