Guideline Value for Sivan Koil Street

Sivan Koil Street guideline value

The current guideline value of Sivan Koil Street is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Vengambakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Sivan Koil Street has changed

The guideline value of Sivan Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 400 per sq.ft. This value remained unchanged until the 2017 revision, which saw a decrease to Rs 268 per sq.ft. However, from 2017 to 2023, the value rose significantly to Rs 400 per sq.ft, and in the latest 2024 revision, it has increased further to Rs 440 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Sivan Koil Street. Overall, from 2012 to 2024, the guideline value has increased by 10% despite the fluctuations observed in the intervening years.

Guideline values in Vengambakkam

In Vengambakkam, there are a total of 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value of Sivan Koil Street is below this median.

• Shiridi Sai Nagar/Avenue: Rs 3,300 per sq.ft (2024)
• Sri Andal Nagar Part-II: Rs 1,100 per sq.ft (2024)
• Sri Iyyappa Nagar: Rs 1,100 per sq.ft (2024)
• Sangothiamman Koil Street: Rs 440 per sq.ft (2024)
• Rajiv Gandhi Nagar Third Main Road: Rs 440 per sq.ft (2024)
• Rajiv gandhi 3rd Main Road: Rs 550 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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. 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 more detailed calculations.

Which Sub Registrar Office covers Sivan Koil Street?

Sivan Koil Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Vengambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it can affect the overall transaction costs. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can influence their budget for the purchase.

Frequently asked questions

What is the current guideline value of Sivan Koil Street?

The current guideline value of Sivan Koil Street is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What are the other streets in Vengambakkam with their guideline values?

Other streets in Vengambakkam include Shiridi Sai Nagar/Avenue at Rs 3,300 per sq.ft, Sri Andal Nagar Part-II and Sri Iyyappa Nagar both at Rs 1,100 per sq.ft, and Sangothiamman Koil Street and Rajiv Gandhi Nagar Third Main Road both at Rs 440 per sq.ft.

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

Stamp duty for properties in Sivan Koil Street is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 30,800 based on the current guideline value.

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

The Sub Registrar Office covering Sivan Koil Street is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more details online.