Guideline Value for Sivasakthi Nagar Ext II

Sivasakthi Nagar Ext II guideline value

The current guideline value of Sivasakthi Nagar Ext II is Rs 2,150 per sq.ft, effective from 1 July 2024. This area is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sivasakthi Nagar Ext II has changed

The guideline value for Sivasakthi Nagar Ext II has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,150 per sq.ft, which is an increase from Rs 2,000 per sq.ft in 2023, marking an 8% rise. Prior to that, the 2017 revision recorded a value of Rs 1,340 per sq.ft, reflecting a significant increase of 49% from the previous 2012 figure of Rs 2,000 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

In summary, from 2012 to 2017, there was a decrease of 33%, but from 2012 to 2024, the overall change is an increase of 8%. The consistent rise in the guideline value from the 2017 revision onwards indicates a notable shift in valuation.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry 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 aligns with the current value for Sivasakthi Nagar Ext II.

• Sivasakthi Nagar Ext I: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar Ext III: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar 4th Street: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar 3rd Street: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar 2nd Street: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar 1st Street: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Nagar Ext II

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value would be Rs 21,50,000. The stamp duty at 7% would amount to Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, leading to a total of Rs 1,93,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivasakthi Nagar Ext II?

The Sivasakthi Nagar Ext II falls under 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 here.

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

The guideline value plays a crucial role in property transactions in Rajakilpakkam. It serves as the basis for calculating stamp duty and registration fees, which are essential costs when buying or selling property. The guideline value is determined by the government and is periodically revised to reflect changes in the real estate market.

When a property is sold, the buyer must pay stamp duty on the higher of the guideline value or the sale price. This ensures that the government receives a fair amount in taxes based on the prevailing market conditions, while also protecting buyers from inflated sale prices.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar Ext II?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,150 per sq.ft in 2024, with several revisions in between, including Rs 2,000 per sq.ft in 2023.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It ensures that the government receives appropriate taxes based on the property's value.

Where is the Selaiyur Sub Registrar Office located?

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

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

Other streets in Rajakilpakkam with the same guideline value of Rs 2,150 per sq.ft include Sivasakthi Nagar Ext I, Sivasakthi Nagar Ext III, Sivasakthi Nagar 4th Street, Sivasakthi Nagar 3rd Street, Sivasakthi Nagar 2nd Street, and Sivasakthi Nagar 1st Street.