Guideline Value for Sivaraj First Lane

Sivaraj First Lane guideline value

The current guideline value of Sivaraj First Lane in Puzhal village, under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sivaraj First Lane has changed

The guideline value for Sivaraj First Lane has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 1,276 per sq.ft. It then decreased to Rs 129 per sq.ft in 2003. Following this, there was a significant increase to Rs 400 per sq.ft in 2007, and it further rose to Rs 1,500 per sq.ft in 2012. However, the value dropped to Rs 1,005 per sq.ft in 2017 before increasing to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 29%. The changes between the revisions show a notable increase of 49% from 2017 to 2023, while there was a decrease of 33% from 2012 to 2017. The 2007 to 2012 period saw a significant increase of 275%, and from 2003 to 2007, the increase was 210%. The register has no figure for the years that do not have specific values listed for this street.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, placing Sivaraj First Lane's 2024 figure above this median.

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

Stamp duty and registration fee for property in Sivaraj First 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 be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivaraj First Lane?

The Sub Registrar Office that covers Sivaraj First Lane is 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 is a crucial factor in the registration process when buying or selling property in Puzhal. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When you proceed with a property transaction, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is advisable to be aware of the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sivaraj First Lane?

The current guideline value of Sivaraj First 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 significantly from Rs 1,276 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value for streets in Puzhal?

The median guideline value for the 270 streets in Puzhal is Rs 1,102 per sq.ft, with Sivaraj First Lane's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in Sivaraj First Lane?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 1,48,500.

Which office handles the registration for Sivaraj First Lane?

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