Guideline Value for Sivasakthi Nagar

Sivasakthi Nagar guideline value

The current guideline value of Sivasakthi Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This locality is situated in Vijayanallur village, under the jurisdiction of the Redhills SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sivasakthi Nagar has changed

The guideline value of Sivasakthi Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 285 per sq.ft. This increased significantly to Rs 30 per sq.ft in 2003, followed by a remarkable rise to Rs 200 per sq.ft in 2007. The value then rose to Rs 500 per sq.ft in 2012, before decreasing to Rs 335 per sq.ft in 2017. The value saw a substantial increase to Rs 500 per sq.ft in 2023, and currently stands at Rs 550 per sq.ft as of the 2024 revision.

Between the revisions, the changes were notable. From 2002 to 2003, there was a decrease of 89%. However, from 2003 to 2007, the value surged by 567%. The value then increased by 150% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value saw a significant increase of 49% from 2017 to 2023, and finally, a 10% rise from 2023 to 2024.

Guideline values in Vijayanallur

In Vijayanallur, there are 19 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 540 per sq.ft. Sivasakthi Nagar's current guideline value is above this median.

• Siva Sakthi Nagar Annexe: Rs 550 per sq.ft (2024)
• S.K. Nagar: Rs 440 per sq.ft (2024)
• Sri Sai Garden: Rs 440 per sq.ft (2024)
• Tata Nagar: Rs 550 per sq.ft (2024)
• Tata Nagar Extn.: Rs 550 per sq.ft (2024)
• Vardhaman Nagar Extension: Rs 440 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivasakthi Nagar?

The Sub Registrar Office that covers Sivasakthi Nagar is 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Vijayanallur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is in compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. This ensures that both parties are informed and can plan their finances accordingly.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar?

The current guideline value of Sivasakthi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 285 per sq.ft in 2002 to Rs 550 per sq.ft in 2024, reflecting various increases and decreases across several revisions.

What is the land classification for Sivasakthi Nagar?

Sivasakthi Nagar is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

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

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at a rate of 7%.