Guideline Value for Sivaprakasam Street

Sivaprakasam Street guideline value

The current guideline value of Sivaprakasam Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sivaprakasam Street has changed

The guideline value for Sivaprakasam Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,560 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in the 2012 revision, marking a rise of 285%. However, in the 2017 revision, the value decreased to Rs 4,020 per sq.ft, a drop of 33%. The latest revision in 2024 shows a substantial increase to Rs 6,600 per sq.ft, which is a 64% rise from the 2017 figure.

It is important to note that there are no figures available for the revisions in 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 323%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, which is equal to the guideline value of Sivaprakasam Street.

• Sivaprakasam lane: Rs 6,600 per sq.ft (2024)
• Sivarajapuram (Huts): Rs 2,700 per sq.ft (2024)
• Sivaraman Street: Rs 6,600 per sq.ft (2024)
• Siyali Koil Lane: Rs 6,600 per sq.ft (2024)
• Siyali Koil Street: Rs 6,600 per sq.ft (2024)
• Singaravelan Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaprakasam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost to Rs 5,94,000. 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 Sivaprakasam Street?

The Sub Registrar Office that covers Sivaprakasam Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Triplicane. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the sale price or the guideline value, whichever is higher, is considered for calculating the applicable duties. 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 Sivaprakasam Street?

The current guideline value of Sivaprakasam Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,560 per sq.ft to Rs 6,600 per sq.ft in 2024, marking an overall increase of 323%.

What are the other streets in Triplicane with similar guideline values?

Other streets in Triplicane with a guideline value of Rs 6,600 per sq.ft include Sivaprakasam lane, Sivaraman Street, Siyali Koil Lane, and Siyali Koil Street.

What is the stamp duty rate for properties in Sivaprakasam Street?

The stamp duty rate for properties in Sivaprakasam Street is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Sivaprakasam Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.