Guideline Value for Sivaraj Street

Sivaraj Street guideline value

The current guideline value of Sivaraj Street in Puzhal village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I 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 2002, the value was Rs 1,276 per sq.ft, which then decreased to Rs 129 per sq.ft in 2003. Following this, the value increased significantly to Rs 400 per sq.ft in 2007, and further rose to Rs 1,500 per sq.ft in 2012. However, it saw a decline to Rs 1,005 per sq.ft in 2017. The value then increased to Rs 1,500 per sq.ft in 2023, and finally reached Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 29%. The revisions for the years 2017, 2023, and 2024 show a significant upward trend, while the years 2002 to 2003 and 2012 to 2017 reflect declines. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,102 per sq.ft. The guideline value of Sivaraj Street is above this median.

• Sivaraj Main Road: Rs 1,650 per sq.ft (2024)
• Sivaraj first Street: Rs 1,650 per sq.ft (2024)
• Sivaraj First Lane: Rs 1,650 per sq.ft (2024)
• Sivaraj 3rd Lane: Rs 1,650 per sq.ft (2024)
• Sivaraj 2nd Street: Rs 1,650 per sq.ft (2024)
• Sivaraj 2nd Lane: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaraj Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the region.

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 1,276 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 29% over the years.

What are the stamp duty rates for properties in Sivaraj Street?

The stamp duty for properties in Sivaraj Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sivaraj Street located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the range of guideline values for other streets in Puzhal?

In Puzhal, the guideline values for other streets range from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,102 per sq.ft.