Guideline Value for Sivarajapuram cross lane

Sivarajapuram cross lane guideline value

The current guideline value of Sivarajapuram cross 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 cross lane has changed

The guideline value for Sivarajapuram cross lane 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. However, it dropped to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,700 per sq.ft. Notably, the register has no figure for this street for the years 2002 and 2003.

From 2007 to 2024, the overall increase in the guideline value is 350%. The change from 2012 to 2017 was a decrease of 33%, while the increase from 2017 to 2023 was 49%. The jump from 2023 to 2024 is an 8% increase.

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 the area is Rs 4,800 per sq.ft, indicating that Sivarajapuram cross lane's 2024 figure is below this median.

• Sivarajapuram 5th Street: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 4th stret: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 4th lane: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 3rd street: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 3rd lane: Rs 2,700 per sq.ft (2024)
• Sivarajpauram 2nd street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sivarajapuram cross 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 be 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 and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivarajapuram cross lane?

The Sivarajapuram cross lane 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 is a crucial factor when buying or selling property in Vepery. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for legal purposes.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate stamp duty and registration fees. This ensures compliance with local regulations and helps in the proper documentation of property transactions.

Frequently asked questions

What is the current guideline value of Sivarajapuram cross lane?

The current guideline value of Sivarajapuram cross 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 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 median guideline value in Vepery?

The median guideline value in Vepery is Rs 4,800 per sq.ft, which means that Sivarajapuram cross lane's 2024 figure is below this median.

What are the stamp duty and registration fees for property in Sivarajapuram cross lane?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office should I visit for property registration in Sivarajapuram cross lane?

The Periamet Sub Registrar Office is responsible for property registration in Sivarajapuram cross lane, located at 1103, Poonamallee High Road, Chennai-600 003.