Guideline Value for Sivapadam Street (Ward-02)

Sivapadam Street (Ward-02) guideline value

The current guideline value of Sivapadam Street (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sivapadam Street (Ward-02) has changed

The guideline value for Sivapadam Street was last revised in 2024 to Rs 1,300 per sq.ft from Rs 1,200 per sq.ft in 2012, marking an increase of 8%. There are no figures available for the revisions in the years 2023, 2017, 2007, 2003, and 2002 for this street.

In summary, the only recorded revisions for Sivapadam Street are from 2012 to 2024. The 2024 value of Rs 1,300 per sq.ft is the most current and reflects the latest assessment of the area.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets with a guideline value range from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in this village is Rs 1,600 per sq.ft, indicating that Sivapadam Street's current value is below the median.

• Siva Nagar (Ward-24): Rs 2,200 per sq.ft (2024)
• Siva Nagar Annex: Rs 2,200 per sq.ft (2024)
• Siva Nagar: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar 1st cross st (Ward No.14): Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar 1st st (Ward No.14): Rs 1,300 per sq.ft (2024)
• Sivasakthi Nagar 2nd Cross St (Ward 14): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivapadam Street (Ward-02)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value is Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivapadam Street (Ward-02)?

The Sub Registrar Office that covers Sivapadam Street (Ward-02) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is used to determine the minimum value at which a property can be registered. When buying or selling property in Madhavaram, the guideline value serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivapadam Street?

The current guideline value of Sivapadam Street (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, an increase of 8%. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft as of 2024, which is higher than the current value of Sivapadam Street.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Sivapadam Street located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, which covers Sivapadam Street (Ward-02).