Guideline Value for Sivan Koil street

Sivan Koil street guideline value

The current guideline value of Sivan Koil street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO. The land classification for this area is 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 significant changes. The earliest recorded figure in 2002 was Rs 720 per sq.ft. This increased to Rs 794 per sq.ft in 2003, marking a rise of 10%. The value then jumped to Rs 1,500 per sq.ft in 2007, a substantial increase of 89%. In 2012, the value was recorded at Rs 6,500 per sq.ft, reflecting a notable rise of 333%. However, in 2017, it decreased to Rs 4,355 per sq.ft, showing a decline of 33%. The value then increased to Rs 6,500 per sq.ft in 2023, before reaching the current figure of Rs 7,100 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 886%. There are no records for any revisions in between these years that do not have a figure for this street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the current guideline value for Sivan Koil street.

• Siva Sankaran mudaly salai: Rs 8,300 per sq.ft (2024)
• Siyali Mudali Stret: Rs 7,100 per sq.ft (2024)
• Slum Clearance Board (tenement): Rs 2,800 per sq.ft (2024)
• Soorammal Lane: Rs 7,100 per sq.ft (2024)
• Soorammal Street: Rs 7,100 per sq.ft (2024)
• South Coovam Salai: 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 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, 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 Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Egmore. It is the benchmark value set by the government, which helps in determining the stamp duty and registration fees applicable for the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivan Koil street?

The current guideline value of Sivan Koil street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 720 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 886% over the years.

What is the land classification for Sivan Koil street?

Sivan Koil street is classified as Residential Class II Type - I, indicating its suitability 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 Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for property in Sivan Koil street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,97,000.