Guideline Value for Sivanthi Avenue

Sivanthi Avenue guideline value

The current guideline value of Sivanthi Avenue, located in Nerkundram village under the Virugambakkam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Sivanthi Avenue has changed

The guideline value for Sivanthi Avenue has seen several revisions over the years. The earliest available figure is from 2007, when the value was Rs 400 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 450% in the guideline value for Sivanthi Avenue. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nerkundram

Nerkundram village has 476 streets under the Virugambakkam SRO, with a 2024 guideline value range from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the current guideline value for Sivanthi Avenue.

• Sivasakthi Nagar 1st Cross Lane: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sivanthi Avenue

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 the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sivanthi Avenue?

The Sub Registrar Office that covers Sivanthi Avenue is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nerkundram. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price according to government standards.

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

Frequently asked questions

What is the current guideline value of Sivanthi Avenue?

The current guideline value of Sivanthi Avenue 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 increased from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 450% over the years.

What is the land classification for Sivanthi Avenue?

Sivanthi Avenue falls under the Residential Class IV Type - I land classification.

Where can I find the Sub Registrar Office for Sivanthi Avenue?

The Sub Registrar Office for Sivanthi Avenue is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000.