Guideline Value for Sivanandha Nagar

Sivanandha Nagar guideline value

The current guideline value of Sivanandha Nagar, located in Kolathur village under the Sembiam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of Sivanandha Nagar has changed

Over the years, the guideline value of Sivanandha Nagar has seen significant changes. In the 2002 revision, the guideline value was Rs 251 per sq.ft. This increased to Rs 273 per sq.ft in 2003, marking a 9% rise. The value then surged to Rs 700 per sq.ft in 2007, reflecting a 156% increase. Following this, the 2012 revision saw a decrease to Rs 2,000 per sq.ft, a decline of 33%. The value rebounded to Rs 1,340 per sq.ft in 2017, which was a 49% increase. The most recent revisions show a rise to Rs 2,000 per sq.ft in 2023 and then to Rs 2,200 per sq.ft in 2024, which is a 10% increase.

There are no figures for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 776%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Sivanandha Nagar is below this median.

• Sivaparvathi Nagar: Rs 2,200 per sq.ft (2024)
• Sivaparvathi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sithan Pagan Nagar: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivanandha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sivanandha Nagar?

The Sivanandha Nagar area is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivanandha Nagar?

The current guideline value of Sivanandha Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 251 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 776% over the years.

What is the land classification of Sivanandha Nagar?

Sivanandha Nagar falls under the Residential Class IV Type - I land classification.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated in Sivanandha Nagar?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot at Rs 2,200 per sq.ft would incur a total of Rs 1,98,000 in fees.