Guideline Value for Sivasakthi Street

Sivasakthi Street guideline value

The current guideline value of Sivasakthi Street is Rs 2,310 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of Sivasakthi Street has changed

In the 2012 revision, the guideline value was Rs 2,100 per sq.ft. This figure then decreased to Rs 1,407 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value rose significantly to Rs 2,100 per sq.ft, reflecting an increase of 49%. The most recent revision in 2024 set the value at Rs 2,310 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for Sivasakthi Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value among these streets is Rs 2,310 per sq.ft, which is equal to the 2024 guideline value of Sivasakthi Street.

• Siva Shankar Nagar: Rs 2,970 per sq.ft (2024)
• Siva Shanmugam Street: Rs 1,650 per sq.ft (2024)
• Siva Sakthi Nagar: Rs 2,310 per sq.ft (2024)
• Sivaraj Street: Rs 1,650 per sq.ft (2024)
• Sorkkam Nagar: Rs 2,640 per sq.ft (2024)
• Spr Kamakshi Avenue: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the guideline value totals Rs 23,10,000. The stamp duty at 7% amounts to Rs 1,61,700, and the registration fee at 2% is Rs 46,200, bringing the total to Rs 2,07,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sivasakthi Street?

The Sub Registrar Office that covers Sivasakthi Street 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 more information.

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

The guideline value plays a crucial role during the registration of property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers must ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Sivasakthi Street?

The current guideline value of Sivasakthi Street is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen various changes, starting from Rs 2,100 in 2012, dropping to Rs 1,407 in 2017, then rising to Rs 2,100 in 2023, and finally reaching Rs 2,310 in 2024.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot at Rs 2,310 per sq.ft, the total cost for stamp duty and registration fees would be Rs 2,07,900.

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

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

What is the significance of the guideline value when buying property?

The guideline value is significant as it determines the minimum price at which a property can be registered. It also impacts the calculation of stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.