Guideline Value for Sivaraj Street

Sivaraj Street guideline value

The current guideline value of Sivaraj Street, located in Perungalathur village under the Padappai SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - II land classification.

How the guideline value of Sivaraj Street has changed

Over the years, the guideline value of Sivaraj Street has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which then increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% rise. However, the value dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33% from the previous revision. The 2023 revision saw a notable increase to Rs 1,500 per sq.ft, followed by a further rise to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 450%. It is important to note that the register has no figures for Sivaraj Street for the years 2002 and 2003.

Guideline values in Perungalathur

In Perungalathur, there are a total of 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, placing Sivaraj Street's 2024 figure below this median.

• Siva Sakthi Nagar: Rs 2,310 per sq.ft (2024)
• Sivasakthi Street: Rs 2,310 per sq.ft (2024)
• Siva Shankar Nagar: Rs 2,970 per sq.ft (2024)
• Siva Shanmugam Street: Rs 1,650 per sq.ft (2024)
• Sorkkam Nagar: Rs 2,640 per sq.ft (2024)
• Sigaram Enclave: Rs 2,640 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 1,650 per sq.ft, the guideline value would amount to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Perungalathur. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the legal and financial obligations involved in the transaction. Buyers should be aware of the guideline value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sivaraj Street?

The current guideline value of Sivaraj Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Sivaraj Street?

The Padappai Sub Registrar Office handles registrations for Sivaraj Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring compliance with local regulations and proper revenue collection for the government.