Guideline Value for Sivasakthi Nagar Ext I

Sivasakthi Nagar Ext I guideline value

The current guideline value of Sivasakthi Nagar Ext I is Rs 2,150 per sq.ft, effective from 1 July 2024. This area falls under Rajakilpakkam village and is governed by the Selaiyur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sivasakthi Nagar Ext I has changed

Over the years, the guideline value for Sivasakthi Nagar Ext I has seen several revisions. The 2012 revision set the guideline value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in the 2023 revision, and finally to Rs 2,150 per sq.ft in the 2024 revision, reflecting an overall increase of 8% from 2012 to 2024.

In terms of percentage changes, the value rose by 49% from 2017 to 2023 and saw an increase of 8% from 2023 to 2024. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

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 value is Rs 2,150 per sq.ft, which is the same as the current guideline value for Sivasakthi Nagar Ext I.

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

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, while the registration fee at 2% would be Rs 43,000. Therefore, the total cost for stamp duty and registration would be Rs 1,93,500. It is important to 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 Ext I?

The Sivasakthi Nagar Ext I area is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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 is used to determine the minimum value at which a property can be registered. Buyers and sellers must be aware of this value, as it influences the overall cost of the transaction, including stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

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

The current guideline value of Sivasakthi Nagar Ext I 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,150 per sq.ft in 2024.

What is the land classification for Sivasakthi Nagar Ext I?

Sivasakthi Nagar Ext I is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 21,50,000. The stamp duty would be Rs 1,50,500 and the registration fee would be Rs 43,000, totaling Rs 1,93,500.

Which office handles the registration for Sivasakthi Nagar Ext I?

The Selaiyur Sub Registrar Office handles the registration for Sivasakthi Nagar Ext I, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.