Guideline Value for Sivan Koil Street

Sivan Koil Street guideline value

The current guideline value of Sivan Koil Street in Madambakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Special Type - I.

How the guideline value of Sivan Koil Street has changed

The guideline value for Sivan Koil Street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The next revision in 2023 saw the value rise to Rs 2,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The change from 2023 to 2024 represents a 10% increase.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that the 2024 guideline value for Sivan Koil Street is below this median.

• S.N.K.Nagar: Rs 3,300 per sq.ft (2024)
• Shrudi Sai Nagar: Rs 2,750 per sq.ft (2024)
• South Mada Street: Rs 1,700 per sq.ft (2024)
• Sheshadri Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Sheshadri Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sheshadri Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sivan Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees together Rs 1,98,000. 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 details.

Which Sub Registrar Office covers Sivan Koil Street?

The Sub Registrar Office that covers Sivan Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing a fair transaction price. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any potential disputes during the transaction process.

Frequently asked questions

What is the current guideline value of Sivan Koil Street?

The current guideline value of Sivan Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Sivan Koil Street?

Sivan Koil Street is classified as Residential Special Type - I under the Selaiyur SRO.

What are the stamp duty and registration fees for property in Sivan Koil Street?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which office handles registrations for Sivan Koil Street?

The Selaiyur Sub Registrar Office handles registrations for Sivan Koil Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.