Guideline Value for Sivasakthi Nagar 10th Street

Sivasakthi Nagar 10th Street guideline value

The current guideline value of Sivasakthi Nagar 10th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Sivasakthi Nagar 10th Street has changed

The guideline value for Sivasakthi Nagar 10th Street has undergone several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in 2012, marking a 329% rise. However, in 2017, the value decreased to Rs 2,010 per sq.ft, which was a decline of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 371%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Sivasakthi Nagar 10th Street.

• Sivasakthi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Nagar 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivasakthi Nagar 10th Street?

Sivasakthi Nagar 10th Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall costs involved in the transaction. Buyers and sellers should consider this value when negotiating sale prices to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar 10th Street?

The current guideline value of Sivasakthi Nagar 10th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 371% over the years.

What are the stamp duty and registration fees for property in Sivasakthi Nagar 10th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Sivasakthi Nagar 10th Street?

The Sembiam Sub Registrar Office covers Sivasakthi Nagar 10th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Sivasakthi Nagar 10th Street?

Sivasakthi Nagar 10th Street falls under the Residential Class I Type - I land classification.