Guideline Value for Sivaraman Street

Sivaraman Street guideline value

The current guideline value of Sivaraman Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sivaraman Street has changed

Looking at the revisions, the guideline value for Sivaraman Street has seen significant changes over the years. The 2007 revision set the value at Rs 1,145 per sq.ft, which increased dramatically to Rs 6,000 per sq.ft in 2012, marking a rise of 424%. However, from 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, a decline of 33%. The most recent revision in 2024 saw the guideline value rise again to Rs 6,600 per sq.ft, reflecting an increase of 64% from 2017.

It is important to note that the register has no figures for Sivaraman Street for the years 2002, 2003, and 2023. Overall, from 2007 to 2024, the guideline value has increased by 476%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that have a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, which is equal to the current guideline value of Sivaraman Street.

• Sivarajapuram (Huts): Rs 2,700 per sq.ft (2024)
• Sivaprakasam Street: Rs 6,600 per sq.ft (2024)
• Sivaprakasam lane: Rs 6,600 per sq.ft (2024)
• Siyali Koil Lane: Rs 6,600 per sq.ft (2024)
• Siyali Koil Street: Rs 6,600 per sq.ft (2024)
• Smith Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sivaraman Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value totals Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivaraman Street?

Sivaraman Street falls under the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Triplicane. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a buyer or seller approaches the registration office, the guideline value helps determine the appropriate fees that need to be paid. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sivaraman Street?

The current guideline value of Sivaraman Street is Rs 6,600 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 1,145 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 476%.

Are there any years with no guideline value for Sivaraman Street?

Yes, the register has no figures for Sivaraman Street for the years 2002, 2003, and 2023.

What is the stamp duty rate for properties in Sivaraman Street?

The stamp duty rate for properties in Sivaraman Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sivaraman Street located?

The Sub Registrar Office covering Sivaraman Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.