Guideline Value for Sivanantham Street

Sivanantham Street guideline value

The current guideline value of Sivanantham Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sivanantham Street has changed

In the 2012 revision, the guideline value was Rs 5,000 per sq.ft. This value decreased to Rs 3,350 per sq.ft in the 2017 revision. Following this, the 2023 revision saw an increase to Rs 5,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 5,500 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, placing Sivanantham Street's 2024 figure above this median.

• Sivanantham Colony: Rs 5,500 per sq.ft (2024)
• Sivam Enclave Meenambal Street: Rs 2,200 per sq.ft (2024)
• Sivaraj Street: Rs 2,200 per sq.ft (2024)
• Sivagami nagar: Rs 1,320 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the 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 on fees applicable to your property transaction.

Which Sub Registrar Office covers Sivanantham Street?

The Sub Registrar Office that covers Sivanantham Street 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 is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value is set by the government and can change periodically based on various factors.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both parties to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sivanantham Street?

The current guideline value of Sivanantham Street 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 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Sivanantham Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 55,00,000, the total fees would be Rs 4,95,000.

Which Sub Registrar Office covers Sivanantham Street?

The Sub Registrar Office for Sivanantham Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Sivanantham Street?

The land classification for Sivanantham Street is Residential Special Type - I, indicating its suitability for residential development.