Guideline Value for Sivaraj Street

Sivaraj Street guideline value

The current guideline value of Sivaraj Street in Kathirvedu village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Sivaraj Street has changed

The guideline value for Sivaraj Street has undergone several revisions over the years. In 2003, the value was Rs 90 per sq.ft, which increased to Rs 200 per sq.ft in 2007. The value saw a significant rise of 400% to reach Rs 1,000 per sq.ft in 2012, but then decreased by 33% to Rs 670 per sq.ft in 2017. The 2023 revision marked an increase to Rs 1,000 per sq.ft, followed by a further 10% rise to the current value of Rs 1,100 per sq.ft in 2024.

From 2003 to 2024, the overall increase in the guideline value is 1122%. It is important to note that there is no figure available for Sivaraj Street in the 2002 revision.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Sivaraj Street's 2024 figure below that median.

• Society Nagar: Rs 1,900 per sq.ft (2024)
• Soorapattu Main Road: Rs 2,300 per sq.ft (2024)
• Sowmiya Nagar: Rs 2,800 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,700 per sq.ft (2024)
• Sri Balaji Nagar Extension: Rs 2,700 per sq.ft (2024)
• Sri Lakshmi Amman Nagar: Rs 1,500 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 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sivaraj Street?

The Sub Registrar Office covering Sivaraj Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering a property in Kathirvedu. It helps determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that the guideline value is used to assess the official value of the property for registration purposes.

When a property is sold, the buyer is required to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sivaraj Street?

The current guideline value of Sivaraj Street is Rs 1,100 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 90 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 1122% over the years.

What is the land classification for Sivaraj Street?

Sivaraj Street is classified as Residential Class IV Type - I, indicating its designation for residential use.

What are the registration fees for property in Sivaraj Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Sivaraj Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.