Guideline Value for Sivanantham Colony

Sivanantham Colony guideline value

The current guideline value of Sivanantham Colony, located in Tambaram village under the Tambaram Joint 1 SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sivanantham Colony has changed

The guideline value for Sivanantham Colony has seen several revisions over the years. In 2007, the guideline value was Rs 3,000 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a 67% rise. However, this value dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 set the value at Rs 5,000 per sq.ft, which again increased to Rs 5,500 per sq.ft in 2024, representing a 10% increase.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 83%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Sivanantham Colony is above this median.

• Sivanantham Street: Rs 5,500 per sq.ft (2024)
• Sivam Enclave Meenambal Street: Rs 2,200 per sq.ft (2024)
• Sivagami nagar: Rs 1,320 per sq.ft (2024)
• Sivaraj Street: Rs 2,200 per sq.ft (2024)
• Sivaraj Street 1st Junction: Rs 2,200 per sq.ft (2024)
• Siva Shanmugam Pillai Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sivanantham Colony

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivanantham Colony?

The Sub Registrar Office that covers Sivanantham Colony is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the amount of stamp duty is calculated based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sivanantham Colony?

The current guideline value of Sivanantham Colony is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 83% over the years.

What are the other streets with guideline values in Tambaram?

Other streets in Tambaram include Sivanantham Street at Rs 5,500 per sq.ft, Sivam Enclave Meenambal Street at Rs 2,200 per sq.ft, and Siva Shanmugam Pillai Street at Rs 6,600 per sq.ft, among others.

What is the stamp duty rate for property in Sivanantham Colony?

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

Where is the Sub Registrar Office for Sivanantham Colony located?

The Sub Registrar Office for Sivanantham Colony is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.