Guideline Value for Sivaprakasam Nagar

Sivaprakasam Nagar guideline value

The current guideline value of Sivaprakasam Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Soorapattu village under the Ambattur Sub Registrar Office (SRO) and is classified as Residential Special Type - II.

How the guideline value of Sivaprakasam Nagar has changed

The guideline value of Sivaprakasam Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and then further to Rs 1,900 per sq.ft in 2024. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 6% in the guideline value.

Guideline values in Soorapattu

In Soorapattu village, there are 115 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing Sivaprakasam Nagar's 2024 figure above that median.

• Sis Cape town Phase-IV: Rs 4,478 per sq.ft (2024)
• Sis Cape town Phase-III: Rs 4,478 per sq.ft (2024)
• S I S Capetown Phase-II: Rs 3,400 per sq.ft (2024)
• S I S Capetown: Rs 3,400 per sq.ft (2024)
• Somci Boy Nagar: Rs 1,300 per sq.ft (2024)
• Soorapattu Main Road: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaprakasam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total cost for these fees Rs 1,71,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivaprakasam Nagar?

The Sub Registrar Office covering Sivaprakasam Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Soorapattu. It determines the minimum value at which a property can be registered and affects the stamp duty and registration fees that are payable.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded at a value that reflects the official assessment of the property’s worth. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Sivaprakasam Nagar?

The current guideline value of Sivaprakasam Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification of Sivaprakasam Nagar?

Sivaprakasam Nagar is classified as Residential Special Type - II, which indicates its intended use for residential purposes in the area.

Where can I find the Sub Registrar Office for Sivaprakasam Nagar?

The Sub Registrar Office for Sivaprakasam Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Sivaprakasam Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,33,000.