Guideline Value for Sivan Koil Street (West)

Sivan Koil Street (West) guideline value

The current guideline value of Sivan Koil Street (West) 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 (West) has changed

Over the years, the guideline value for Sivan Koil Street (West) has seen significant changes. In 2007, the value was recorded at Rs 1,210 per sq.ft. This increased dramatically to Rs 6,000 per sq.ft in 2012, marking a change of +396%. The value remained unchanged at Rs 6,000 per sq.ft until the 2023 revision, which then saw an increase to Rs 6,600 per sq.ft in 2024, reflecting a rise of +10%.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by +445%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft as of 2024. The median guideline value in this area is Rs 4,900 per sq.ft, placing Sivan Koil Street (West) above this median value.

• Sivan Koil Street (South): 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 (West)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to 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 our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Sivan Koil Street (West) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your specific SRO, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two is used to calculate stamp duty and registration fees, ensuring that all transactions are fairly assessed according to the established guideline values.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,210 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting a total increase of +445% over the years.

What is the land classification for Sivan Koil Street (West)?

Sivan Koil Street (West) is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Sivan Koil Street (West)?

The Sub Registrar Office for Sivan Koil Street (West) is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 66,00,000, the stamp duty would be calculated accordingly.