Guideline Value for Sivasakthi Nagar 3rd Street

Sivasakthi Nagar 3rd Street guideline value

The current guideline value of Sivasakthi Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Sivasakthi Nagar 3rd Street has changed

Over the years, the guideline value for Sivasakthi Nagar 3rd Street has seen significant changes. The 2007 revision set the value at Rs 700 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 329%. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, followed by the current value of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value rose by 49%. Overall, from the 2007 revision to the current 2024 revision, there has been a remarkable increase of 371%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

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, with the median value being Rs 3,300 per sq.ft. The guideline value of Sivasakthi Nagar 3rd Street aligns perfectly with this median.

• Sivasakthi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 2nd 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)
• Sivasakthi Nagar 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Nagar 3rd 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, while the registration fee at 2% would be Rs 66,000. Therefore, the total cost for stamp duty and registration fees would be 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 details.

Which Sub Registrar Office covers Sivasakthi Nagar 3rd Street?

The Sivasakthi Nagar 3rd Street falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is officially recorded and that all necessary taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar 3rd Street?

The current guideline value of Sivasakthi Nagar 3rd 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 significantly 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 is the purpose of the guideline value?

The guideline value is used as a benchmark for property transactions, determining the minimum value at which properties can be registered. It ensures compliance with local regulations during the buying and selling process.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at 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.