Guideline Value for Sivasakthi Nagar Extn

Sivasakthi Nagar Extn guideline value

The current guideline value of Sivasakthi Nagar Extn is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under Ammanambakkam village and is classified as Residential Special Type - I, governed by the Gooduvancheri SRO.

How the guideline value of Sivasakthi Nagar Extn has changed

Over the years, the guideline value for Sivasakthi Nagar Extn has seen several revisions. The earliest available figure is from 2007, where the value was Rs 250 per sq.ft. This increased to Rs 500 per sq.ft in 2012, reflecting a 100% rise. However, it then decreased to Rs 335 per sq.ft in 2017, marking a 33% drop. The value remained at Rs 500 per sq.ft in both 2023 and 2024, indicating no change from the previous year.

In summary, the guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 500 per sq.ft in 2024, representing an overall increase of 100%. The revisions for the years 2002 and 2003 do not have any figures listed for this street in the register.

Guideline values in Ammanambakkam

In Ammanambakkam, there are 15 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 500 per sq.ft, with a median value of Rs 500 per sq.ft. Sivasakthi Nagar Extn's 2024 figure aligns with this median.

• Sivasakthi Nagar: Rs 500 per sq.ft (2024)
• SaiRam nagar: Rs 500 per sq.ft (2024)
• Sri Venkateswara Nagar Phase-I: Rs 500 per sq.ft (2024)
• Surya Nagar: Rs 500 per sq.ft (2024)
• Velavan Nagar: Rs 500 per sq.ft (2024)
• Kannan Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, resulting in a total of Rs 45,000. It is important to note that the 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 Extn?

The Sivasakthi Nagar Extn area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ammanambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the relevant duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar Extn?

The current guideline value of Sivasakthi Nagar Extn is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 500 per sq.ft in 2024, with various revisions in between, including a drop to Rs 335 per sq.ft in 2017.

What is the land classification for Sivasakthi Nagar Extn?

Sivasakthi Nagar Extn is classified as Residential Special Type - I, which indicates its zoning for residential purposes.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 500 per sq.ft would incur a stamp duty of Rs 35,000.