Guideline Value for Sivaraj Salai

Sivaraj Salai guideline value

The current guideline value of Sivaraj Salai is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Vepery village and falls under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Sivaraj Salai has changed

The guideline value for Sivaraj Salai has undergone several revisions over the years. Starting from the 2007 revision, the value was set at Rs 800 per sq.ft. This saw a significant increase to Rs 4,000 per sq.ft in the 2012 revision, followed by a decrease to Rs 2,680 per sq.ft in 2017. The value then rose sharply to Rs 4,000 per sq.ft in 2023, before reaching the current rate of Rs 4,400 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 400% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent increase from 2023 to 2024 is 10%. Overall, the guideline value has increased by 450% from 2007 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery village, there are 290 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 4,800 per sq.ft, placing Sivaraj Salai's 2024 figure below that median.

• Sivarajpauram 2nd street: Rs 2,700 per sq.ft (2024)
• Sivarajapuram cross lane: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 5th Street: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 4th stret: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 4th lane: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 3rd street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaraj Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sivaraj Salai?

The Sub Registrar Office that covers Sivaraj Salai is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Vepery, as it helps determine the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, ensuring transparency in property transactions.

When registering a property, the guideline value serves as a benchmark for the government to assess the value of the transaction. It is essential for both buyers and sellers to understand the guideline value to accurately calculate the total costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Sivaraj Salai?

The current guideline value of Sivaraj Salai is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 450% over this period.

What are the stamp duty rates for property in Sivaraj Salai?

The stamp duty for property in Sivaraj Salai is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sivaraj Salai?

The Sub Registrar Office for Sivaraj Salai is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Sivaraj Salai?

The land classification for Sivaraj Salai is Residential Class III Type - I, indicating its designation for residential use.