Guideline Value for Sivasakthi Nagar

Sivasakthi Nagar guideline value

The current guideline value of Sivasakthi Nagar, located in Moonramkattalai village, is Rs 650 per sq.ft, effective from 1 July 2024. This area falls under the Kunrathur Sub Registrar Office (SRO) and 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 2007 revision recorded a value of Rs 150 per sq.ft, which then increased significantly to Rs 600 per sq.ft in 2012, marking a 300% rise. However, between 2012 and 2017, the value decreased to Rs 402 per sq.ft, reflecting a decline of 33%.

In the subsequent revisions, the guideline value rose to Rs 600 per sq.ft in 2023, and further increased to Rs 650 per sq.ft in 2024, representing an 8% increase. Overall, from 2007 to 2024, the guideline value has increased by 333%.

Guideline values in Moonramkattalai

In Moonramkattalai village, there are 43 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 650 to Rs 2,750 per sq.ft, with the median being Rs 650 per sq.ft. Sivasakthi Nagar's 2024 guideline value aligns with this median.

• Sivan Koil Street: Rs 650 per sq.ft (2024)
• Sri Devi Karumari Amman Nagar: Rs 650 per sq.ft (2024)
• Sri Devi Nagar: Rs 650 per sq.ft (2024)
• Sri Saravana Nagar: Rs 650 per sq.ft (2024)
• Sri Saravana Nagar IIIrd Street: Rs 650 per sq.ft (2024)
• Sri Saravana Nagar Iind Street: Rs 650 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 650 per sq.ft, the total guideline value amounts to Rs 6,50,000. The stamp duty at 7% would be Rs 45,500, and the registration fee at 2% would be Rs 13,000, bringing the total fees to Rs 58,500. 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 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 Moonramkattalai

The guideline value plays a crucial role in property transactions in Moonramkattalai, as it is used to determine the stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When registering a property, the guideline value or the sale price, whichever is higher, will be used to calculate the applicable 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?

The current guideline value of Sivasakthi Nagar is Rs 650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 150 per sq.ft in 2007 to Rs 650 per sq.ft in 2024, marking an overall increase of 333% over this period.

What are the stamp duty and registration fees for properties in Sivasakthi Nagar?

For a property valued at Rs 6,50,000, the stamp duty would be Rs 45,500 and the registration fee would be Rs 13,000, totaling Rs 58,500.

Which office handles property registrations in Sivasakthi Nagar?

The Kunrathur Sub Registrar Office handles property registrations in Sivasakthi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Sivasakthi Nagar?

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