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 Vadakal village under the Sriperumpudur Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Sivan Koil Street has changed

Over the years, the guideline value of Sivan Koil Street has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision saw a decrease to Rs 201 per sq.ft, marking a 33% drop. The value then increased significantly to Rs 300 per sq.ft in the 2023 revision, maintaining the same figure in the 2024 revision, resulting in an overall change of 0% from 2012 to 2024.

From 2017 to 2023, the guideline value increased by 49%. It is important to note that the register has no figures for Sivan Koil Street for the years 2002, 2003, and 2007.

Guideline values in Vadakal

In Vadakal village, there are 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 800 per sq.ft. The median value is Rs 300 per sq.ft, which is equal to the 2024 figure for Sivan Koil Street.

• Sri Aurobindo Nagar Part - II: Rs 150 per sq.ft (2024)
• Sri Aurobindo Vasantham Nature City: Rs 200 per sq.ft (2024)
• Sri Dhanushkodi Garden: Rs 610 per sq.ft (2024)
• Sriperumpudur Chengalpattu Road: Rs 600 per sq.ft (2024)
• Sri sathya sai Nagar: Rs 500 per sq.ft (2024)
• Thalaiyari Street: Rs 150 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 would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, while 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 and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Vadakal. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are recorded accurately and fairly in the official register.

When a property is sold, the guideline value helps in establishing a baseline for the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to avoid any discrepancies 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 has remained at Rs 300 per sq.ft in the 2023 and 2024 revisions. It was Rs 201 per sq.ft in 2017, which was a decrease from Rs 300 per sq.ft in 2012.

What is the land classification for Sivan Koil Street?

Sivan Koil Street is classified as Residential Class II Type - I, which indicates its designated use for residential purposes.

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 on Sivan Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 3,00,000, the stamp duty at 7% would be Rs 21,000.