Guideline Value for Sivasakthi Nagar 3rd Street

Sivasakthi Nagar 3rd Street guideline value

The current guideline value of Sivasakthi Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Sivasakthi Nagar 3rd Street has changed

Over the years, the guideline value of Sivasakthi Nagar 3rd Street has seen significant changes. In 2002, the guideline value was Rs 83 per sq.ft, which rose to Rs 92 per sq.ft in 2003. The value increased substantially to Rs 350 per sq.ft in 2007, marking a 280% increase from the previous year. By 2012, the value reached Rs 2,000 per sq.ft, reflecting a 471% rise from 2007. However, there was a decrease to Rs 1,340 per sq.ft in 2017, which was a 33% drop from 2012. The value then increased to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by an impressive 2,551%. The register has no figures for the years between these revisions, as they are not listed.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the current guideline value for Sivasakthi Nagar 3rd Street.

• Sivasakthi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar 1st Cross Lane: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Sivanthi Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the 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 Sivasakthi Nagar 3rd Street?

The Sivasakthi Nagar 3rd Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar 3rd Street?

The current guideline value of Sivasakthi Nagar 3rd Street is Rs 2,200 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 83 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, with various revisions impacting the value at different intervals.

What is the land classification for Sivasakthi Nagar 3rd Street?

Sivasakthi Nagar 3rd Street is classified as Residential Class IV Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Sivasakthi Nagar 3rd Street?

The Sub Registrar Office covering Sivasakthi Nagar 3rd Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000, leading to specific fees based on that value.