Guideline Value for Sivaparvathi Nagar

Sivaparvathi Nagar guideline value

The current guideline value of Sivaparvathi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Sivaparvathi Nagar has changed

The guideline value for Sivaparvathi Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 271 per sq.ft, which increased to Rs 294 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 700 per sq.ft in 2007, and further increased to Rs 2,000 per sq.ft in 2012. However, it experienced a decrease to Rs 1,340 per sq.ft in 2017, before rising again to Rs 2,000 per sq.ft in 2023, and finally reaching Rs 2,200 per sq.ft in 2024.

Between the revisions, there were notable changes. From 2002 to 2003, the increase was +8%. The value surged by +138% from 2003 to 2007, and then jumped by +186% from 2007 to 2012. The value decreased by -33% from 2012 to 2017, but rebounded with a +49% increase from 2017 to 2023. The latest revision from 2023 to 2024 saw a +10% increase. Overall, from 2002 to 2024, the guideline value has increased by +712%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry 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 is below this median.

• Sivaparvathi Nagar 1st Street: 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

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, and the registration fee at 2% would be Rs 44,000, leading to a total cost of Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sivaparvathi Nagar?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with the regulations set by the Registration Department.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivaparvathi Nagar?

The current guideline value of Sivaparvathi Nagar 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 significantly from Rs 271 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +712% over the years.

What is the land classification of Sivaparvathi Nagar?

Sivaparvathi Nagar is classified as Residential Class IV Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Sivaparvathi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.