Guideline Value for Sivaraj 1st Street

Sivaraj 1st Street guideline value

The current guideline value of Sivaraj 1st Street in Thiruneermalai village, under the Pammal SRO, is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Sivaraj 1st Street has changed

The guideline value for Sivaraj 1st Street has seen significant changes over the years. In 2003, the value was Rs 274 per sq.ft, which increased to Rs 350 per sq.ft in 2007, marking a change of +28%. By 2017, the guideline value rose dramatically to Rs 1,474 per sq.ft, reflecting a substantial increase of +321%. In 2023, it further increased to Rs 2,200 per sq.ft, which was a +49% change from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,420 per sq.ft, an increase of +10% from 2023.

There are no figures available for the revisions in 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by +783%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are a total of 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value is Rs 2,420 per sq.ft, which is equal to the 2024 figure for Sivaraj 1st Street.

• Sivaraj 2nd Street: Rs 2,420 per sq.ft (2024)
• Sivaraj 3rd Street: Rs 2,420 per sq.ft (2024)
• Sivaraj MainRoad: Rs 2,420 per sq.ft (2024)
• Sivaraj Street Extn: Rs 2,420 per sq.ft (2024)
• Sivaraj Street Extn 1st Street: Rs 2,420 per sq.ft (2024)
• Sivaraj Street Extn 2nd Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaraj 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. 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 detailed calculations.

Which Sub Registrar Office covers Sivaraj 1st Street?

The Sub Registrar Office that covers Sivaraj 1st Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is in line with or exceeds the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Sivaraj 1st Street?

The current guideline value of Sivaraj 1st Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 274 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, representing an overall increase of +783% over this period.

What is the land classification for Sivaraj 1st Street?

Sivaraj 1st Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Where is the Sub Registrar Office located for Sivaraj 1st Street?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.