Guideline Value for Sivasakthi Nagar 1st Street

Sivasakthi Nagar 1st Street guideline value

The current guideline value of Sivasakthi Nagar 1st Street is Rs 2,150 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sivasakthi Nagar 1st Street has changed

The guideline value for Sivasakthi Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest 2024 revision has set it at Rs 2,150 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 is an increase of 8%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median value is Rs 2,150 per sq.ft, which is equal to the current guideline value of Sivasakthi Nagar 1st Street.

• Sivasakthi Nagar: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar 2nd Street: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar 3rd Street: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar 4th Street: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar Ext I: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar Ext II: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value would be Rs 21,50,000. The stamp duty at 7% would amount to Rs 1,50,500, while the registration fee at 2% would be Rs 43,000. Together, the total cost for these fees would be Rs 1,93,500. 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 1st Street?

The Sivasakthi Nagar 1st Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

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

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price.

Frequently asked questions

What is the current guideline value for Sivasakthi Nagar 1st Street?

The current guideline value for Sivasakthi Nagar 1st Street is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,150 per sq.ft in 2024.

What is the land classification for Sivasakthi Nagar 1st Street?

The land classification for Sivasakthi Nagar 1st Street is Residential Class I Type - I.

What are the stamp duty and registration fees for a property in Sivasakthi Nagar 1st Street?

For a property valued at Rs 21,50,000, the stamp duty would be Rs 1,50,500 and the registration fee would be Rs 43,000, totaling Rs 1,93,500.

Which office handles registrations for Sivasakthi Nagar 1st Street?

The Selaiyur Sub Registrar Office handles registrations for Sivasakthi Nagar 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.