Guideline Value for Sivan Koil Street

Sivan Koil Street guideline value

The current guideline value of Sivan Koil Street is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Pillaippakkam-A village and falls under the Sriperumpudur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sivan Koil Street has changed

In the 2017 revision, the guideline value for Sivan Koil Street was Rs 201 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 300 per sq.ft. The most recent 2024 revision also holds the guideline value at Rs 300 per sq.ft, indicating no change from the previous year. The register has no figures for the revisions in 2002, 2003, 2007, and 2012.

From 2017 to 2023, there was a significant increase of 49% in the guideline value, and the overall change from 2017 to 2024 also stands at 49%. The consistent value of Rs 300 per sq.ft in the last two revisions indicates stability in the guideline value for this street.

Guideline values in Pillaippakkam-A

Pillaippakkam-A has 49 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,254 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, which is equal to the current guideline value of Sivan Koil Street.

• Siriya Street: Rs 200 per sq.ft (2024)
• Sri Bala Rathna Nagar: Rs 700 per sq.ft (2024)
• Sri Hari Krishna Nagar: Rs 400 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 200 per sq.ft (2024)
• Santhoshpuram Nagar Part II: Rs 500 per sq.ft (2024)
• Santhosapuram Nagar Part - II: Rs 500 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivan Koil Street?

The Sub Registrar Office that covers Sivan Koil Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Pillaippakkam-A

The guideline value is a crucial factor in the registration process of property transactions in Pillaippakkam-A. It serves as a benchmark for determining the minimum value at which properties can be registered and affects the calculation of stamp duty and registration fees.

When buying or selling property, the guideline value ensures that transactions are conducted at a fair value, reflecting the local market conditions. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sivan Koil Street?

The current guideline value of Sivan Koil Street is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sivan Koil Street has remained at Rs 300 per sq.ft from 2023 to 2024, showing no change. However, there was a significant increase of 49% from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023.

What is the land classification for Sivan Koil Street?

Sivan Koil Street is classified as Residential Class II Type - I. This classification is important for determining the usage and regulations applicable to the properties in this area.

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

The Sub Registrar Office for Sivan Koil Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sivan Koil Street?

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 3,00,000, the stamp duty at 7% would be Rs 21,000.