Guideline Value for Sivarajapuram 3rd lane

Sivarajapuram 3rd lane guideline value

The current guideline value of Sivarajapuram 3rd lane is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet Sub Registrar Office (SRO) and is classified as Residential Class IV Type - I.

How the guideline value of Sivarajapuram 3rd lane has changed

Over the years, the guideline value of Sivarajapuram 3rd lane has undergone several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, the value decreased by 33% to Rs 1,675 per sq.ft in 2017. The following revision in 2023 raised the value to Rs 2,500 per sq.ft, and the current revision in 2024 has further increased it to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

In summary, from the 2017 revision to the 2023 revision, there was a notable increase of 49%. The overall change from the 2007 revision to the 2024 revision shows a substantial increase of 350%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO, with guideline values ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 4,800 per sq.ft, indicating that Sivarajapuram 3rd lane's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Sivarajapuram 3rd lane

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, resulting in a total of Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivarajapuram 3rd lane?

The Sivarajapuram 3rd lane falls under the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Vepery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of this value to avoid overpaying and for sellers to price their properties competitively within the market.

Frequently asked questions

What is the current guideline value of Sivarajapuram 3rd lane?

The current guideline value of Sivarajapuram 3rd lane 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, reflecting an overall increase of 350% over the years.

What is the land classification for Sivarajapuram 3rd lane?

Sivarajapuram 3rd lane is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this lane?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Which office handles the registration for Sivarajapuram 3rd lane?

The registration for Sivarajapuram 3rd lane is handled by the Periamet Sub Registrar Office located at 1103, Poonamallee High Road, Chennai-600 003.