Guideline Value for Sivasakthi Nagar 4th Street

Sivasakthi Nagar 4th Street guideline value

The current guideline value of Sivasakthi Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Sivasakthi Nagar 4th Street has changed

The guideline value for Sivasakthi Nagar 4th Street has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 83 per sq.ft. This increased to Rs 92 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 350 per sq.ft in 2007, which was a substantial increase of 280%. In 2012, the value was Rs 2,000 per sq.ft, reflecting a massive increase of 471% from the previous revision. However, there was a decrease of 33% to Rs 1,340 per sq.ft in 2017. The guideline value then increased to Rs 2,000 per sq.ft in 2023, and most recently, it has risen to Rs 2,200 per sq.ft in the 2024 revision, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2551%. Notably, there are no figures available for the revisions in years other than those specified.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value of Sivasakthi Nagar 4th Street.

• Sivasakthi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar 2nd 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)
• Sivanthi Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Nagar 4th 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, charged at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that 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 Sivasakthi Nagar 4th Street?

The Sub Registrar Office covering Sivasakthi Nagar 4th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value rather than fluctuating market prices.

When buying or selling property, it is essential to be aware of the guideline value, as it can significantly impact the overall costs involved in the transaction. Buyers and sellers should consult the latest guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar 4th Street?

The current guideline value of Sivasakthi Nagar 4th 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 from Rs 83 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 2551% over the years.

What is the stamp duty for property in Sivasakthi Nagar 4th Street?

The stamp duty for property in Sivasakthi Nagar 4th Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Sivasakthi Nagar 4th Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How many streets in Nerkundram have a guideline value?

There are 476 streets in Nerkundram under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 6,600 per sq.ft.