Guideline Value for Sivan Street

Sivan Street guideline value

The current guideline value of Sivan Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village and falls under the Selaiyur SRO, classified as Residential Class III Type - I.

How the guideline value of Sivan Street has changed

Over the years, the guideline value of Sivan Street has seen several revisions. The earliest recorded figure is from 2012, when it was Rs 1,300 per sq.ft. This was followed by a decrease to Rs 871 per sq.ft in 2017. The guideline value then increased to Rs 1,300 per sq.ft in 2023, and finally to Rs 1,400 per sq.ft in the 2024 revision. Notably, the register has no figures for the years 2002, 2003, and 2007.

Examining the changes between revisions, the guideline value rose by 49% from 2017 to 2023, and increased by 8% from 2023 to 2024. However, there was a significant decline of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Sivan Street at Rs 1,400 per sq.ft is below this median.

• Sivagnanam Street: Rs 1,100 per sq.ft (2024)
• Sivagami Ammal Street: Rs 950 per sq.ft (2024)
• Soloman Street: Rs 2,400 per sq.ft (2024)
• Soloman Street 1st Lane: Rs 2,400 per sq.ft (2024)
• Soloman Street 1st Street: Rs 2,400 per sq.ft (2024)
• Soloman Street Extn: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sivan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total charges to Rs 1,26,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivan Street?

The Sub Registrar Office that covers Sivan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Selaiyur. It is the value set by the government for properties and is used to calculate the stamp duty and registration fees applicable during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers must consider this value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Sivan Street?

The current guideline value of Sivan Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value of Sivan Street changed over the years?

The guideline value of Sivan Street has changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, then to Rs 1,300 per sq.ft in 2023, and finally to Rs 1,400 per sq.ft in 2024.

What is the land classification for Sivan Street?

Sivan Street is classified as Residential Class III Type - I, indicating its designation for residential purposes within the Selaiyur village.

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

The Sub Registrar Office for Sivan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 at the rate of 7%.