Guideline Value for Sivarajpauram 2nd street

Sivarajpauram 2nd street guideline value

The current guideline value of Sivarajpauram 2nd 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 Sivarajpauram 2nd street has changed

The guideline value for Sivarajpauram 2nd street has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure saw a decrease to Rs 1,675 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and in the latest 2024 revision, it rose to Rs 2,700 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, while from 2023 to 2024, it saw an 8% rise. The overall change from 2007 to 2024 is a substantial increase of 350%, reflecting the fluctuations in property values over the years.

Guideline values in Vepery

In Vepery village, 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 for Sivarajpauram 2nd street is below this median.

• Sivaraj Salai: Rs 4,400 per sq.ft (2024)
• Sivarajapuram cross lane: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 5th Street: Rs 2,700 per sq.ft (2024)
• Sivarajapuram 4th street: 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)

Stamp duty and registration fee for property in Sivarajpauram 2nd street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to 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, bringing the total to Rs 2,43,000. Please 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 Sivarajpauram 2nd street?

The Sub Registrar Office that covers Sivarajpauram 2nd street is 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 an important factor in the registration process when buying or selling property in Vepery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivarajpauram 2nd street?

The current guideline value of Sivarajpauram 2nd 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 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 are the stamp duty and registration fees for property in Sivarajpauram 2nd street?

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 Sub Registrar Office covers this area?

The Periamet Sub Registrar Office covers Sivarajpauram 2nd street, located at 1103, Poonamallee High Road, Chennai-600 003.

What other streets have guideline values in Vepery?

Other streets in Vepery include Sivaraj Salai at Rs 4,400 per sq.ft, Sivarajapuram cross lane at Rs 2,700 per sq.ft, and several others, all listed with their respective values.