Guideline Value for Sivasakthi Nagar

Sivasakthi Nagar guideline value

The current guideline value of Sivasakthi Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Commercial Special Type - I.

How the guideline value of Sivasakthi Nagar has changed

The guideline value for Sivasakthi Nagar has undergone several revisions over the years. The earliest available figure is from the 2007 revision, which was Rs 245 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, it then decreased to Rs 804 per sq.ft in the 2017 revision, before rising again to Rs 1,200 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2012, the value increased by 390%, but then it saw a decrease of 33% from 2012 to 2017. After that, from 2017 to 2023, the value increased by 49%, maintaining the same value of Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value is Rs 1,200 per sq.ft, placing Sivasakthi Nagar's 2024 figure at this median level.

• Siva Nagar: Rs 1,200 per sq.ft (2024)
• Sillambu Nagar: Rs 1,200 per sq.ft (2024)
• Sri Amman Nagar: Rs 1,200 per sq.ft (2024)
• Sri Amman Nagar Extn-I,II,III: Rs 1,200 per sq.ft (2024)
• Shanthi Nagar: Rs 1,200 per sq.ft (2024)
• Shagithya Avenue: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivasakthi Nagar?

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

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

The guideline value plays a crucial role during property transactions in Madambakkam. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers must be aware that the guideline value is often the basis for these fees, ensuring that the government receives the appropriate revenue from property transactions.

When registering a property, the guideline value helps in establishing a legal framework for the transaction. It ensures that the property is valued fairly according to the prevailing rates in the area, which is vital for both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar?

The current guideline value of Sivasakthi Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreasing to Rs 804 per sq.ft in 2017, and finally returning to Rs 1,200 per sq.ft in 2023 and 2024.

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

Other streets in Madambakkam with a guideline value of Rs 1,200 per sq.ft include Siva Nagar, Sillambu Nagar, Sri Amman Nagar, Sri Amman Nagar Extn-I,II,III, Shanthi Nagar, and Shagithya Avenue.

What is the registration fee for buying property in Sivasakthi Nagar?

The registration fee for property in Sivasakthi Nagar is calculated based on the guideline value. For example, for a property valued at Rs 12,00,000, the registration fee would be Rs 24,000 at 2%.

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

The Sub Registrar Office covering Sivasakthi Nagar is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.