Guideline Value for Sivan Koil Street

Sivan Koil Street guideline value

The current guideline value of Sivan Koil Street is Rs 650 per sq.ft, effective from 1 July 2024. This street is located in Moonramkattalai village, under the Kunrathur SRO, and is classified as Residential Class I 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 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and currently stands at Rs 650 per sq.ft from the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The transition from 2023 to 2024 reflects an 8% increase, bringing the overall change from 2012 to 2024 to an increase of 8%.

Guideline values in Moonramkattalai

In Moonramkattalai, there are 43 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 650 to Rs 2,750 per sq.ft. The median guideline value is Rs 650 per sq.ft, which aligns with the current figure for Sivan Koil Street.

• Sivasakthi Nagar: Rs 650 per sq.ft (2024)
• Sri Devi Karumari Amman Nagar: Rs 650 per sq.ft (2024)
• Sri Devi Nagar: Rs 650 per sq.ft (2024)
• Sri Saravana Nagar: Rs 650 per sq.ft (2024)
• Sri Saravana Nagar IIIrd Street: Rs 650 per sq.ft (2024)
• Sri Saravana Nagar Iind Street: Rs 650 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 650 per sq.ft, the total guideline value would be Rs 6,50,000. The stamp duty at 7% would amount to Rs 45,500, and the registration fee at 2% would be Rs 13,000, making the total cost for these fees Rs 58,500. 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Moonramkattalai. It serves as the benchmark for determining the minimum value at which properties can be registered, ensuring that the registration fees and stamp duties are calculated fairly.

When buying or selling property, the guideline value helps in assessing the transaction value for registration purposes. It is essential for both buyers and sellers to 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 650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and currently stands at Rs 650 per sq.ft in 2024.

What is the land classification of Sivan Koil Street?

Sivan Koil Street is classified as Residential Class I Type - I, indicating its designation for residential purposes.

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

The Kunrathur Sub Registrar Office, which covers Sivan Koil Street, is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 58,500.