Guideline Value for Sivapriya Avenue

Sivapriya Avenue guideline value

The current guideline value of Sivapriya Avenue in Mannivakkam village is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of Sivapriya Avenue has changed

The guideline value for Sivapriya Avenue has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a 260% rise. However, it saw a decrease to Rs 603 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 900 per sq.ft in 2023, followed by a further increase to Rs 990 per sq.ft in 2024, which is a 10% rise from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 296%.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft, with a median value of Rs 1,215 per sq.ft. The guideline value of Sivapriya Avenue is below this median.

• Sivan Koil West Mada Veethi: Rs 990 per sq.ft (2024)
• Sivan Koil South Mada Veethi: Rs 990 per sq.ft (2024)
• Sivan Koil North Mada Veethi: Rs 990 per sq.ft (2024)
• Sivan Koil East Mada Veethi: Rs 990 per sq.ft (2024)
• Singaram Nagar: Rs 1,320 per sq.ft (2024)
• Sindhu Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sivapriya Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sivapriya Avenue?

The Sivapriya Avenue falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mannivakkam. It determines the minimum value at which the property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When you purchase a property, the guideline value ensures that the transaction is recorded at a fair value, preventing underreporting of property values. This helps maintain transparency in real estate transactions within the area.

Frequently asked questions

What is the current guideline value of Sivapriya Avenue?

The current guideline value of Sivapriya Avenue is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 250 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, representing an overall increase of 296%.

What are the other streets with the same guideline value in Mannivakkam?

Other streets in Mannivakkam with the same guideline value of Rs 990 per sq.ft in 2024 include Sivan Koil West Mada Veethi, Sivan Koil South Mada Veethi, Sivan Koil North Mada Veethi, and Sivan Koil East Mada Veethi.

What is the registration fee for property in Sivapriya Avenue?

The registration fee for property in Sivapriya Avenue is calculated based on the guideline value. For a 1,000 sq.ft plot, the total registration fee would be Rs 19,800 at the current rate.

Where can I find the Sub Registrar Office for Sivapriya Avenue?

The Gooduvancheri Sub Registrar Office, which covers Sivapriya Avenue, is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.