Guideline Value for Sivaraj 3rd Street

Sivaraj 3rd Street guideline value

The current guideline value of Sivaraj 3rd Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO and is classified as Residential Class I Type - I.

How the guideline value of Sivaraj 3rd Street has changed

The guideline value for Sivaraj 3rd Street has seen several revisions over the years. In 2003, the value was Rs 274 per sq.ft, which increased to Rs 350 per sq.ft in 2007. This was a significant increase of 28%. The value then rose dramatically to Rs 1,474 per sq.ft in 2017, marking a 321% increase. Following this, the 2023 revision set the value at Rs 2,200 per sq.ft, a 49% rise from the previous figure. The most recent revision in 2024 has set the guideline value at Rs 2,420 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2012 for this street in the register.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 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 for these streets is Rs 2,420 per sq.ft, which is equal to the current value of Sivaraj 3rd Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, totaling Rs 2,17,800. 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivaraj 3rd Street?

The Sub Registrar Office that covers Sivaraj 3rd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 property registration in Thiruneermalai. It serves as a benchmark for assessing the value of properties for the purpose of calculating stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during transactions.

When registering a property, the guideline value helps determine the amount of stamp duty payable. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Sivaraj 3rd Street?

The current guideline value of Sivaraj 3rd Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How 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, marking an overall increase of 783% over this period.

What is the land classification for Sivaraj 3rd Street?

Sivaraj 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Sivaraj 3rd Street?

The Sub Registrar Office for Sivaraj 3rd Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in Thiruneermalai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 24,20,000 would incur a stamp duty of Rs 1,69,400 at a rate of 7%.