Guideline Value for Sivapuram

Sivapuram guideline value

The current guideline value of Sivapuram, located in Pattravakkam village under the Konnur SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Sivapuram has changed

The guideline value for Sivapuram has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,400 per sq.ft in 2012. However, it decreased to Rs 938 per sq.ft in 2017. The value then rose to Rs 1,400 per sq.ft in 2023, before reaching the current rate of Rs 1,500 per sq.ft in 2024. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was a substantial 250%. Overall, from 2007 to 2024, the guideline value has risen by 275%.

Guideline values in Pattravakkam

Pattravakkam village has 34 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 4,900 per sq.ft. The median guideline value in this area is Rs 1,500 per sq.ft, which is the same as the current value for Sivapuram.

• Sivakami Ammal Street: Rs 1,100 per sq.ft (2024)
• Shrinivasa Nagar (Karukku): Rs 1,500 per sq.ft (2024)
• Shrinivasa Nagar (A) Jeyanthi Nagar: Rs 1,500 per sq.ft (2024)
• Selva Nagar: Rs 1,500 per sq.ft (2024)
• Station Road: Rs 1,500 per sq.ft (2024)
• Samondeeswari Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sivapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, making the total fees Rs 1,35,000. Please 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 details.

Which Sub Registrar Office covers Sivapuram?

The Sub Registrar Office covering Sivapuram is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Pattravakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the associated fees. This ensures that the fees reflect the actual value of the transaction, safeguarding the interests of both the buyer and the seller.

Frequently asked questions

What is the current guideline value of Sivapuram?

The current guideline value of Sivapuram is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 275% over this period.

What is the land classification for Sivapuram?

Sivapuram falls under the Residential Class II Type - I land classification.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 1,35,000.

Which office handles property registrations in Sivapuram?

The Konnur Sub Registrar Office handles property registrations for Sivapuram, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.