Guideline Value for Sivasakthi Nagar 7th Street

Sivasakthi Nagar 7th Street guideline value

The current guideline value of Sivasakthi Nagar 7th 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 7th Street has changed

The guideline value for Sivasakthi Nagar 7th Street has seen several revisions over the years. The oldest recorded figure is from 2007, which was Rs 700 per sq.ft. This value increased significantly to Rs 3,000 per sq.ft in 2012, marking a change of +329%. The value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision, which brought it up to Rs 3,300 per sq.ft, reflecting a +10% increase.

From 2007 to 2024, the overall increase in guideline value is +371%, culminating in the current figure of Rs 3,300 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2017 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 guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current value for Sivasakthi Nagar 7th Street.

• Sivasakthi Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar Extension: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Nagar 7th 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. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. Please note that 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 more details.

Which Sub Registrar Office covers Sivasakthi Nagar 7th Street?

The Sivasakthi Nagar 7th 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 information.

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

The guideline value is a crucial factor when registering property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to assess the transaction's tax implications. It is important to note that the duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar 7th Street?

The current guideline value of Sivasakthi Nagar 7th 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 increased from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing a total increase of +371% over the years.

What is the land classification for Sivasakthi Nagar 7th Street?

The land classification for Sivasakthi Nagar 7th Street is Residential Class I Type - I.

Which Sub Registrar Office covers this street?

The Sembiam Sub Registrar Office covers Sivasakthi Nagar 7th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

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