Guideline Value for Sivasakthi Nagar

Sivasakthi Nagar guideline value

The current guideline value of Sivasakthi Nagar, located in Pullilyon village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Sivasakthi Nagar has changed

The guideline value for Sivasakthi Nagar has seen several revisions over the years. In 2003, the value was Rs 70 per sq.ft, which increased to Rs 200 per sq.ft in 2007. The 2012 revision set the value at Rs 400 per sq.ft, but it decreased to Rs 268 per sq.ft in 2017. Following this, the value rose significantly to Rs 400 per sq.ft in 2023 and is now Rs 440 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002.

From 2003 to 2024, the overall change in the guideline value amounts to an increase of 529%. Notably, the value jumped by 186% from 2003 to 2007, and then saw a 100% increase from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The most recent change from 2023 to 2024 reflects an increase of 10%.

Guideline values in Pullilyon

In Pullilyon, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Sivasakthi Nagar is below this median.

• Sri Dhanalakshmi Avenue: Rs 770 per sq.ft (2024)
• Sri Murugan Nagar: Rs 735 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 550 per sq.ft (2024)
• Sri Ranga Co-operative Society Nagar: Rs 770 per sq.ft (2024)
• Sri Renga Co-Operative Nagar: Rs 770 per sq.ft (2024)
• Sri Renga Nagar: Rs 770 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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, while the registration fee at 2% would be Rs 8,800. Together, the total charges would be Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivasakthi Nagar?

The Sivasakthi Nagar area is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pullilyon. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar?

The current guideline value of Sivasakthi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 529% over this period.

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

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles property registrations for Sivasakthi Nagar?

The Redhills Sub Registrar Office handles property registrations for Sivasakthi Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the government receives the appropriate revenue based on the established values for properties.