Guideline Value for Sivaparvathi Nagar 1st Street

Sivaparvathi Nagar 1st Street guideline value

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

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

The guideline value for Sivaparvathi Nagar 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2007, when the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 186% rise. However, it then saw a decrease to Rs 1,340 per sq.ft in 2017, which was a 33% drop. From 2017 to 2023, the value increased substantially by 49% to reach Rs 2,000 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 214%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Sivaparvathi Nagar 1st Street is below this median.

• Sivaparvathi Nagar: Rs 2,200 per sq.ft (2024)
• Sivanandha Nagar: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaparvathi 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 would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivaparvathi Nagar 1st Street?

The Sub Registrar Office that covers Sivaparvathi Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kolathur. It serves as the basis for calculating the stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during property transactions.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

Frequently asked questions

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

The current guideline value of Sivaparvathi 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 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 214% over the years.

What is the registration office for Sivaparvathi Nagar 1st Street?

The registration office for Sivaparvathi Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the stamp duty and registration fees for property transactions?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a plot valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Where can I find more information about the guideline values in Kolathur?

For more information about the guideline values in Kolathur, you can refer to the Registration Department's guideline value register available on the TNReginet website.