Guideline Value for Sivanantham Nagar 1st Street

Sivanantham Nagar 1st Street guideline value

The current guideline value of Sivanantham Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Sivanantham Nagar 1st Street has changed

The guideline value for Sivanantham Nagar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in 2023 and further rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur village, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft, with a median value of Rs 3,600 per sq.ft. The guideline value of Rs 2,200 per sq.ft for Sivanantham Nagar 1st Street is below this median.

• Sivanantham Harichandran Koil St.: Rs 2,200 per sq.ft (2024)
• Sivanantham Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sivanantham 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Sivanantham Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sivanantham 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Sivanantham Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sivanantham Nagar 1st Street

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, bringing the total to Rs 1,98,000. 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 Sivanantham Nagar 1st Street?

The Sub Registrar Office that covers Sivanantham Nagar 1st Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on either the guideline value or the sale price, whichever is higher, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sivanantham Nagar 1st Street?

The current guideline value of Sivanantham Nagar 1st Street 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 from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Sivanantham Nagar 1st Street?

Sivanantham Nagar 1st Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft property, the total guideline value is Rs 22,00,000, leading to a total of Rs 1,98,000 for both fees.

Which office handles the registration for Sivanantham Nagar 1st Street?

The Ambattur Sub Registrar Office handles the registration for Sivanantham Nagar 1st Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.