Guideline Value for Sivasakthi Nagar 2nd Street

Sivasakthi Nagar 2nd Street guideline value

The current guideline value of Sivasakthi Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam 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 of Sivasakthi Nagar 2nd Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 329%. However, in 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a drop of 33%. The subsequent revision in 2023 brought the value back up to Rs 3,000 per sq.ft, and the latest revision in 2024 set it at Rs 3,300 per sq.ft, a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for Sivasakthi Nagar 2nd 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 value for these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of Sivasakthi Nagar 2nd Street.

• Sivasakthi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 10th 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 2nd Street

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

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sivasakthi Nagar 2nd Street?

The Sivasakthi Nagar 2nd Street falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as the baseline for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation set by the government.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the registration fees reflect the true value of the transaction.

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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with notable changes in between.

What is the registration office for Sivasakthi Nagar 2nd Street?

The registration office for Sivasakthi Nagar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.

What are the other streets in Kolathur with the same guideline value?

Other streets in Kolathur, such as Sivasakthi Nagar 1st, 3rd, 4th, 5th, 6th, and 10th Streets, also have a guideline value of Rs 3,300 per sq.ft for 2024.