Guideline Value for Sivaraj first Street

Sivaraj first Street guideline value

The current guideline value of Sivaraj first 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 first Street has changed

The guideline value for Sivaraj first Street has undergone several revisions over the years. In the 2003 revision, the value was set at Rs 119 per sq.ft. This increased to Rs 400 per sq.ft in 2007, and then saw a significant rise to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in the 2017 revision. The value then increased to Rs 1,500 per sq.ft in 2023 before reaching the current figure of Rs 1,650 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2003 to 2007, the value increased by 236%. The 2007 to 2012 period saw a decrease of 33%. However, from 2012 to 2017, the value dropped again by 49%. The value then rose by 10% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 1287%. The register does not have a figure for the 2002 revision for this street.

Guideline values in Puzhal

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

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

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 16,50,000. The stamp duty is charged at 7%, which totals Rs 1,15,500, while the registration fee at 2% amounts to Rs 33,000. Together, these fees total 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivaraj first Street?

The Sub Registrar Office that covers Sivaraj first 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 details.

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

The guideline value plays a crucial role in property transactions in Puzhal. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of this value as it directly impacts the overall cost of the transaction.

When registering a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivaraj first Street?

The current guideline value of Sivaraj first 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 significantly, increasing from Rs 119 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 1287% over this period.

What is the land classification of Sivaraj first Street?

Sivaraj first Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office located for Sivaraj first Street?

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

How are stamp duties calculated for properties in Sivaraj first Street?

Stamp duties are calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at the current guideline value of Rs 16,50,000 incurs a stamp duty of Rs 1,15,500 at 7%.