Guideline Value for Sivaraj Street 1st Junction

Sivaraj Street 1st Junction guideline value

The current guideline value of Sivaraj Street 1st Junction in Tambaram village is Rs 2,200 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Sivaraj Street 1st Junction has changed

The guideline value for Sivaraj Street 1st Junction has seen several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 1,340 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, reflecting a rise of 10% from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, indicating that Sivaraj Street's 2024 figure is below this median.

• Sivaraj Street: Rs 2,200 per sq.ft (2024)
• Siva Shanmugam Pillai Street: Rs 6,600 per sq.ft (2024)
• Sivanantham Street: Rs 5,500 per sq.ft (2024)
• Sivanantham Colony: Rs 5,500 per sq.ft (2024)
• Sivam Enclave Meenambal Street: Rs 2,200 per sq.ft (2024)
• Sivagami nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaraj Street 1st Junction

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total cost of Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivaraj Street 1st Junction?

The Sivaraj Street 1st Junction is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a critical role in the registration process of property transactions in Tambaram. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration fees and stamp duties are calculated fairly based on the established rates.

When buying or selling property, it is essential to consider the guideline value as it impacts the overall costs involved in the transaction. Buyers should be aware that the guideline value may differ from the sale price, and the higher amount will be used for calculating duties and fees.

Frequently asked questions

What is the current guideline value of Sivaraj Street 1st Junction?

The current guideline value of Sivaraj Street 1st Junction is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Sivaraj Street 1st Junction?

Sivaraj Street 1st Junction is classified as Residential Class I Type - II.

Which Sub Registrar Office covers Sivaraj Street 1st Junction?

The Tambaram Joint 1 Sub Registrar Office covers Sivaraj Street 1st Junction, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Sivaraj Street 1st Junction?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.