Guideline Value for Sivasakthi Nagar 2nd Street

Sivasakthi Nagar 2nd Street guideline value

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

How the guideline value of Sivasakthi Nagar 2nd Street has changed

The guideline value for Sivasakthi Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,150 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From the 2017 revision to the 2023 revision, the guideline value rose by 49%. Overall, from the 2012 revision to the 2024 revision, there has been an 8% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, which is the same as the current guideline value for Sivasakthi Nagar 2nd Street.

• Sivasakthi Nagar 1st 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)
• Sivasakthi Nagar Ext III: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value amounts to Rs 21,50,000. The stamp duty at 7% would be 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. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sivasakthi Nagar 2nd Street?

The Sivasakthi Nagar 2nd Street is covered by 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 information.

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

The guideline value is a critical factor in property transactions in Rajakilpakkam, as it determines the minimum value at which a property can be registered. This value is used by the registration authorities to calculate the applicable stamp duty and registration fees during the sale or purchase of property.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar 2nd Street?

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

How much 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 increased 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 2nd Street?

Sivasakthi Nagar 2nd Street is classified as Residential Class I Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property in Sivasakthi Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total cost for stamp duty and registration fees would be Rs 1,93,500.