Guideline Value for Sivan Koil Street

Sivan Koil Street guideline value

The current guideline value of Sivan Koil Street in Koyakbedu village, under the AnnaNagar SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - III land classification.

How the guideline value of Sivan Koil Street has changed

The guideline value for Sivan Koil Street has undergone several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it saw a decrease to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,800 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 reflects a 9% increase. Overall, from 2007 to 2024, the guideline value has increased by 217%.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value in the village is Rs 4,400 per sq.ft, placing Sivan Koil Street's 2024 figure below this median.

• South Mada Street: Rs 4,400 per sq.ft (2024)
• Shenbagam Street, Brindavan Nagar: Rs 4,400 per sq.ft (2024)
• Sri Ayyappa Nagar: Rs 4,400 per sq.ft (2024)
• Sri Ayyappa Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)
• Sri Ayyappa Nagar 2nd Cross Street: Rs 4,900 per sq.ft (2024)
• Sri Ayyappa Nagar 2nd Main Road: Rs 4,400 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 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty, charged at 7%, would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that 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 details.

Which Sub Registrar Office covers Sivan Koil Street?

The Sub Registrar Office that covers Sivan Koil Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Koyakbedu. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value is often used as a benchmark for determining the sale price. It is essential for buyers to be aware of this value 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 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, showing an overall increase of 217% over the years.

What is the land classification of Sivan Koil Street?

Sivan Koil Street is classified as Residential Class II Type - III, which determines the applicable guideline value for 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 AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Koyakbedu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 38,00,000, the stamp duty would be Rs 2,66,000 at a rate of 7%.