Guideline Value for Sivasakthi Nagar

Sivasakthi Nagar guideline value

The current guideline value of Sivasakthi Nagar, located in Chikkarayapuram village under the Kunrathur SRO, is Rs 1,980 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Mixed 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. In 2003, the value was Rs 46 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2007. Following this, the value rose dramatically to Rs 1,400 per sq.ft in 2012, before experiencing a decline to Rs 938 per sq.ft in 2017. The value then surged to Rs 1,800 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 1,980 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 4204%. It is important to note that there is no figure for the year 2002 in the register for this street.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft, with the median value being Rs 1,980 per sq.ft. The guideline value for Sivasakthi Nagar matches this median value.

• Sivasakthi Nagar Annex: Rs 1,760 per sq.ft (2024)
• Sri Ambal Nagar: Rs 1,980 per sq.ft (2024)
• Sri Kamatchi Amman Nagar: Rs 1,980 per sq.ft (2024)
• Sri Kumarasamy Nagar: Rs 2,130 per sq.ft (2024)
• Sri Maruthi Nagar: Rs 1,980 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,980 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. 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 information.

Which Sub Registrar Office covers Sivasakthi Nagar?

The Sivasakthi Nagar area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more details, you can find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Chikkarayapuram. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for maintaining transparency and compliance with legal requirements in real estate dealings.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar?

The current guideline value of Sivasakthi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 46 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 4204% over the years.

What are the stamp duty rates for property in Sivasakthi Nagar?

The stamp duty for property transactions in Sivasakthi Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value for streets in Chikkarayapuram?

The median guideline value for streets in Chikkarayapuram is Rs 1,980 per sq.ft, which is also the current value for Sivasakthi Nagar.