Guideline Value for Sivaraj 2nd Lane

Sivaraj 2nd Lane guideline value

The current guideline value of Sivaraj 2nd Lane in Puzhal village, under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification.

How the guideline value of Sivaraj 2nd Lane has changed

The guideline value for Sivaraj 2nd Lane has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 1,276 per sq.ft. This value changed to Rs 129 per sq.ft in 2003, a decrease of 90%. Following this, the value increased significantly to Rs 400 per sq.ft in 2007, marking a rise of 210%. The 2012 revision set the value at Rs 1,500 per sq.ft, an increase of 275%. However, it then decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The next revision in 2023 raised the value to Rs 1,500 per sq.ft, followed by the current value of Rs 1,650 per sq.ft in 2024, which is an increase of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 29%. There are no figures available for the revisions in the years not listed for this street.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, placing Sivaraj 2nd Lane's 2024 figure above this median.

• Sivaraj 1st Street: Rs 1,650 per sq.ft (2024)
• Sivaraj 2nd Street: Rs 1,650 per sq.ft (2024)
• Sivaraj 3rd Lane: Rs 1,650 per sq.ft (2024)
• Sivaraj First Lane: Rs 1,650 per sq.ft (2024)
• Sivaraj first Street: Rs 1,650 per sq.ft (2024)
• Sivaraj Main Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaraj 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sivaraj 2nd Lane?

The Sivaraj 2nd Lane is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Puzhal. It is used as a benchmark for calculating the stamp duty and registration fees at the time of property registration. Buyers should be aware that the guideline value may influence the overall cost of the transaction.

When registering a property, it is essential to consider the guideline value as it is often the basis for determining the transaction's official value. This ensures compliance with local regulations and helps in the accurate assessment of fees.

Frequently asked questions

What is the current guideline value of Sivaraj 2nd Lane?

The current guideline value of Sivaraj 2nd Lane is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,276 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, with various increases and decreases over the years.

What is the land classification for Sivaraj 2nd Lane?

Sivaraj 2nd Lane is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in Sivaraj 2nd Lane?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,48,500 based on the current guideline value.

Which office handles registrations for Sivaraj 2nd Lane?

The Redhills Sub Registrar Office handles registrations for Sivaraj 2nd Lane, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.