Guideline Value for Sivaprakasam lane

Sivaprakasam lane guideline value

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

The guideline value for Sivaprakasam lane has undergone several revisions over the years. In 2007, the guideline value was set at Rs 1,560 per sq.ft, which saw a significant increase to Rs 6,000 per sq.ft in both the 2012 and 2023 revisions. However, there are no figures available for the years 2002, 2003, and 2017.

With the latest revision in 2024, the guideline value increased to Rs 6,600 per sq.ft, marking a 10% rise from the previous year's figure of Rs 6,000 per sq.ft. 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 guideline value in this area is Rs 6,600 per sq.ft, which is the same as the current guideline value for Sivaprakasam lane.

• Sivaprakasam Street: 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 lane

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 is charged at 7%, which totals Rs 4,62,000, while the registration fee is 2%, amounting to Rs 1,32,000. Together, the total cost for stamp duty and registration fee comes to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sivaprakasam lane?

The Sub Registrar Office that covers Sivaprakasam lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more details, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Triplicane. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

Frequently asked questions

What is the current guideline value of Sivaprakasam lane?

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

How has the guideline value changed over the years?

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

What is the land classification for Sivaprakasam lane?

Sivaprakasam lane is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in Sivaprakasam lane?

For a property valued at Rs 66,00,000, the stamp duty is Rs 4,62,000 and the registration fee is Rs 1,32,000, totaling Rs 5,94,000.

Where is the Sub Registrar Office for Sivaprakasam lane located?

The Sub Registrar Office covering Sivaprakasam lane is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.