Guideline Value for Sivasakthi Nagar

Sivasakthi Nagar guideline value

The current guideline value of Sivasakthi Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Sivasakthi Nagar has changed

The guideline value for Sivasakthi Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 85 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 606% rise. However, this value decreased to Rs 402 per sq.ft in 2017, a reduction of 33%. The value then rose to Rs 600 per sq.ft in 2023, followed by a further increase to Rs 660 per sq.ft in 2024, reflecting a 10% change.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, the guideline value has increased by 676% from Rs 85 per sq.ft in 2007 to Rs 660 per sq.ft in 2024.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value is Rs 830 per sq.ft, placing Sivasakthi Nagar's 2024 figure below that median.

• Sivan Nagar: Rs 1,320 per sq.ft (2024)
• S.K.Avenue: Rs 830 per sq.ft (2024)
• S K Avenue S.No 426/2b, 426/2b1, 426/2b1b, 426/2b1a1c: Rs 3,300 per sq.ft (2024)
• Sirumathur Road: Rs 1,320 per sq.ft (2024)
• Spn Avenue: Rs 3,300 per sq.ft (2024)
• Sri Balaji Nagar: Rs 830 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. It is important to note that 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 Sub Registrar Office covering Sivasakthi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Padappai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations associated with the transaction. Understanding this value helps in making informed decisions during the property registration process.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar?

The current guideline value of Sivasakthi Nagar is Rs 660 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 85 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 676% over the years.

What is the classification of land in Sivasakthi Nagar?

Sivasakthi Nagar is classified as Residential Class IV Type - I, indicating its designation for residential purposes.

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

The Sub Registrar Office for Sivasakthi Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property in Sivasakthi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 6,60,000 would incur a stamp duty of Rs 46,200 at 7%.