Guideline Value for Sivaraj Street Extn 1st Street

Sivaraj Street Extn 1st Street guideline value

The current guideline value of Sivaraj Street Extn 1st 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 falls under the Residential Class I Type - I land classification.

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

The guideline value for Sivaraj Street Extn 1st Street has seen several revisions over the years. The earliest recorded revision is from 2017, where the value was Rs 1,474 per sq.ft. This figure increased significantly to Rs 2,200 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 brought the value to Rs 2,420 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

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 is Rs 2,420 per sq.ft, which is equal to the current value of Sivaraj Street Extn 1st Street.

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

Stamp duty and registration fee for property in Sivaraj Street Extn 1st 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, charged at 7%, would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total fees to 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivaraj Street Extn 1st Street?

The Sub Registrar Office that covers Sivaraj Street Extn 1st Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Thiruneermalai

The guideline value is a critical factor in the registration process when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the buyer will need to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the state collects the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Sivaraj Street Extn 1st 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 1,474 per sq.ft in 2017 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 64% during this period.

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

Sivaraj Street Extn 1st Street falls under the Residential Class I Type - I land classification.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,20,000, the total fees would be Rs 2,17,800.