Guideline Value for Sivasakthi Nagar

Sivasakthi Nagar guideline value

The current guideline value of Sivasakthi Nagar, located in Rajakilpakkam village under the Selaiyur SRO, is Rs 2,150 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I 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 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest 2024 revision has further increased it to Rs 2,150 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The change from 2023 to 2024 reflects an increase of 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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, with a median value of Rs 2,150 per sq.ft. The guideline value for Sivasakthi Nagar aligns with this median.

• Sivasakthi Nagar 1st Street: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar 2nd Street: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar 3rd Street: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar 4th Street: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar Ext I: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar Ext II: Rs 2,150 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 2,150 per sq.ft, the total guideline value amounts to Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, bringing the total to Rs 1,93,500. 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?

The Sub Registrar Office that covers Sivasakthi Nagar is 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

When buying or selling property in Rajakilpakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees applicable to the transaction. The guideline value is used to calculate these fees, ensuring that all property transactions are registered at a value recognized by the state.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of property transactions. The guideline value must be considered alongside the sale price to determine the applicable duties and fees during registration.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar?

The current guideline value of Sivasakthi Nagar 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?

Sivasakthi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

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

How is the stamp duty calculated in Sivasakthi Nagar?

Stamp duty in Sivasakthi Nagar is calculated based on the higher of the guideline value or the sale price. Currently, the stamp duty rate is 7% of the guideline value.