Guideline Value for Sivaraj Street

Sivaraj Street guideline value

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

How the guideline value of Sivaraj Street has changed

The guideline value for Sivaraj Street has seen several revisions over the years. Starting from Rs 186 per sq.ft in 2002, it increased to Rs 229 per sq.ft in 2003, marking a 23% rise. In 2007, the value jumped significantly to Rs 600 per sq.ft, reflecting a 162% increase. The value remained at Rs 600 per sq.ft until 2012, when it rose to Rs 2,000 per sq.ft, a substantial increase of 233%.

From 2012 to 2017, the guideline value decreased to Rs 1,340 per sq.ft, showing a decline of 33%. However, from 2017 to 2023, it increased to Rs 2,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Sivaraj Street is below this median.

• Sivaraj Street 1st Junction: 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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivaraj Street?

The Sub Registrar Office that covers Sivaraj Street is 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 is a crucial factor during property registration in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the sale process.

When registering a property, the guideline value helps in calculating the total costs involved, including the stamp duty and registration fees. This ensures that the transaction is conducted transparently and fairly according to the established rates.

Frequently asked questions

What is the current guideline value of Sivaraj Street?

The current guideline value of Sivaraj Street 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 186 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1083% over the years.

What is the land classification of Sivaraj Street?

Sivaraj Street is classified as Residential Class I Type - II under the Tambaram Joint 1 SRO.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

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

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059. This office handles registrations for Sivaraj Street.