Guideline Value for Sivasakthi Nagar 5th Street

Sivasakthi Nagar 5th Street guideline value

The current guideline value of Sivasakthi Nagar 5th 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 5th Street has changed

The guideline value for Sivasakthi Nagar 5th Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. The changes between these revisions are as follows: from 2007 to 2012, there was an increase of 329%; from 2012 to 2017, a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%.

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. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Sivasakthi Nagar 5th Street.

• Sivasakthi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar Extension: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Nagar 5th 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 or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivasakthi Nagar 5th Street?

The Sivasakthi Nagar 5th Street falls under the jurisdiction of 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 in the registration process when buying or selling property in Kolathur. It is used to determine the stamp duty and registration fees applicable on the property transaction, ensuring that the correct amounts are calculated based on the guideline value or the sale price, whichever is higher.

When a buyer or seller approaches the Sembiam SRO for registration, the guideline value helps establish a baseline for the transaction, ensuring that all parties are aware of the legal and financial implications of the property transfer.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar 5th Street?

The current guideline value of Sivasakthi Nagar 5th 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. This includes increases and decreases across various years, with notable changes in 2012 and 2017.

What is the median guideline value in Kolathur?

The median guideline value for streets in Kolathur under the Sembiam SRO is Rs 3,300 per sq.ft, which is the same as the current value for Sivasakthi Nagar 5th Street.

What are the stamp duty and registration fees for properties in Sivasakthi Nagar 5th Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Sivasakthi Nagar 5th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles the registration for Sivasakthi Nagar 5th Street.