Guideline Value for Sivan Koil Street

Sivan Koil Street guideline value

The current guideline value of Sivan Koil Street in Karanodai village, under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special 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. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this figure dropped to Rs 1,005 per sq.ft in 2017. The 2023 revision saw a notable increase to Rs 1,500 per sq.ft, followed by the current value of Rs 1,650 per sq.ft effective from 1 July 2024.

The changes between the revisions show a steady increase overall. From 2007 to 2012, there was a remarkable increase of 114%, followed by a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 136%.

Guideline values in Karanodai

Karanodai village has a total of 38 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,000 per sq.ft. The median value is Rs 1,210 per sq.ft, placing Sivan Koil Street's 2024 figure above this median.

• Sothuperumpedu Road: Rs 1,650 per sq.ft (2024)
• Shanmuga Nagar: Rs 1,210 per sq.ft (2024)
• Senthil Avenue: Rs 1,650 per sq.ft (2024)
• Sri Ganapathi Avenue: Rs 440 per sq.ft (2024)
• Sri Krishna Nagar Annex-III: Rs 440 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,210 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Karanodai. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers must ensure that the sale price is either equal to or higher than the guideline value to comply with registration requirements.

When registering a property, the guideline value is assessed to calculate the applicable duties and fees. This ensures that the transaction is properly documented and that the necessary taxes are paid to the government, facilitating a smooth transfer of ownership.

Frequently asked questions

What is the current guideline value of Sivan Koil Street?

The current guideline value of Sivan Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 136% over this period.

What is the median guideline value for streets in Karanodai?

The median guideline value for streets in Karanodai is Rs 1,210 per sq.ft, with Sivan Koil Street's value above this median.

What are the stamp duty rates for property in Sivan Koil Street?

The stamp duty rate for property in Sivan Koil Street is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Sivan Koil Street located?

The Sub Registrar Office for Sivan Koil Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.