Guideline Value for Sivarajapuram 1st street

Sivarajapuram 1st street guideline value

The current guideline value of Sivarajapuram 1st street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Sivarajapuram 1st street has changed

The guideline value for Sivarajapuram 1st street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 317% rise. However, this value dropped to Rs 1,675 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose sharply to Rs 2,500 per sq.ft in 2023, which was a 49% increase. The latest revision in 2024 set the guideline value at Rs 2,700 per sq.ft, representing an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 350%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. The guideline value of Sivarajapuram 1st street is below this median.

• Sivarajapuram 1st lane: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 2nd lane: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 6th street: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 3rd lane: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 3rd street: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 4th lane: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sivarajapuram 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total charges Rs 2,43,000. 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 detailed calculations.

Which Sub Registrar Office covers Sivarajapuram 1st street?

The Sivarajapuram 1st street falls under the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Vepery. When a property is bought or sold, the guideline value serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivarajapuram 1st street?

The current guideline value of Sivarajapuram 1st street is Rs 2,700 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 600 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 350% over the years.

What is the land classification of Sivarajapuram 1st street?

Sivarajapuram 1st street is classified as Residential Class IV Type - I.

Which Sub Registrar Office handles transactions for Sivarajapuram 1st street?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, handles transactions for Sivarajapuram 1st street.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% and the registration fee at 2% on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,700 per sq.ft would incur total charges of Rs 2,43,000.