Guideline Value for Sivasakthi Nagar Extension

Sivasakthi Nagar Extension guideline value

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

How the guideline value of Sivasakthi Nagar Extension has changed

The guideline value for Sivasakthi Nagar Extension has seen significant changes over the years. In 2003, the guideline value was Rs 253 per sq.ft, which increased to Rs 700 per sq.ft in 2007, marking a substantial rise of 177%. The value remained at Rs 3,000 per sq.ft from 2007 until 2012, and again from 2012 to 2023, there was no change, maintaining the figure at Rs 3,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1204%. It is important to note that the register does not have figures for the years 2002 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 value is Rs 3,300 per sq.ft, which is equal to the guideline value of Sivasakthi Nagar Extension.

• Sivasakthi Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 5th Street: 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 Extension

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, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivasakthi Nagar Extension?

The Sivasakthi Nagar Extension falls under 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 an essential factor in property transactions in Kolathur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately calculate the costs associated with the transaction.

When a property is registered, the guideline value serves as a benchmark for the minimum value of the property. This means that if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar Extension?

The current guideline value of Sivasakthi Nagar Extension 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 from Rs 253 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 1204% over the years.

What is the land classification for Sivasakthi Nagar Extension?

The land classification for Sivasakthi Nagar Extension is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Sivasakthi Nagar Extension?

The Sembiam Sub Registrar Office covers Sivasakthi Nagar Extension and is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Sivasakthi Nagar Extension?

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