Guideline Value for Sivaraj Main Road,

Sivaraj Main Road, guideline value

The current guideline value of Sivaraj Main Road, 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 Main Road, has changed

The guideline value for Sivaraj Main Road has seen several revisions over the years. In 2007, the value was set at Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft. The subsequent revision in 2023 raised it to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,650 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 313%. The revisions for the years 2002 and 2003 do not have any figures 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, with a median value of Rs 1,102 per sq.ft. The guideline value for Sivaraj Main Road is above this median.

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

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivaraj Main Road,?

The Sub Registrar Office that covers Sivaraj Main Road 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 the property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers must pay the applicable fees based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivaraj Main Road?

The current guideline value of Sivaraj Main Road 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 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What are the other streets with the same guideline value?

Other streets in Puzhal that share the same guideline value of Rs 1,650 per sq.ft include Sivaraj first Street, Sivaraj First Lane, Sivaraj Street, Sivaraj 3rd Lane, Sivaraj 2nd Street, and Sivaraj 2nd Lane.

What are the stamp duty and registration fees for a property on Sivaraj Main Road?

For a 1,000 sq.ft plot on Sivaraj Main Road, the total stamp duty and registration fees would amount to Rs 1,48,500, based on the current guideline value of Rs 16,50,000.

Where can I find the Sub Registrar Office for Sivaraj Main Road?

The Sub Registrar Office covering Sivaraj Main Road is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.