Guideline Value for Sivasakthi Avenue

Sivasakthi Avenue guideline value

The current guideline value of Sivasakthi Avenue in Zaminpallavaram village, under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Sivasakthi Avenue has changed

The guideline value for Sivasakthi Avenue has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 600 per sq.ft. This figure saw a significant increase in the 2012 revision, where it remained at Rs 2,500 per sq.ft, showing no change from the previous year. The next revision in 2023 also maintained the same value of Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,750 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 358%. Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, indicating that Sivasakthi Avenue's 2024 figure is below this median.

• Sivaraj Street: Rs 3,300 per sq.ft (2024)
• Sivasankaran Street: Rs 4,400 per sq.ft (2024)
• Sivasanmugam Street: Rs 2,160 per sq.ft (2024)
• Siva Shanmugam Cross Street: Rs 3,300 per sq.ft (2024)
• Solidam Workers Colony: Rs 3,300 per sq.ft (2024)
• Somasundaram Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 detailed calculations.

Which Sub Registrar Office covers Sivasakthi Avenue?

The Sivasakthi Avenue area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is assessed to calculate the applicable stamp duty and registration fees. Buyers should be aware that the duty is calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sivasakthi Avenue?

The current guideline value of Sivasakthi Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 358%.

What are the other streets with their guideline values in Zaminpallavaram?

Other streets in Zaminpallavaram include Sivaraj Street at Rs 3,300, Sivasankaran Street at Rs 4,400, Sivasanmugam Street at Rs 2,160, Siva Shanmugam Cross Street at Rs 3,300, Solidam Workers Colony at Rs 3,300, and Somasundaram Street at Rs 3,300 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Sivasakthi Avenue?

The Sub Registrar Office covering Sivasakthi Avenue is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Sivasakthi Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.