Guideline Value for Sivasakthivelan Nagar

Sivasakthivelan Nagar guideline value

The current guideline value of Sivasakthivelan Nagar is Rs 3,000 per sq.ft, effective from 1 July 2024. This area is located in Puthagaram village, under the Ambattur SRO, and is classified as Residential Special Type - II.

How the guideline value of Sivasakthivelan Nagar has changed

The guideline value for Sivasakthivelan Nagar has seen several revisions over the years. In 2012, the value was set at Rs 2,800 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped by 33% to Rs 1,876 per sq.ft. The value then increased significantly to Rs 2,800 per sq.ft in 2023, marking a 49% rise. As of the 2024 revision, the guideline value stands at Rs 3,000 per sq.ft, reflecting a 7% increase from the previous year.

There are no registered figures for the years 2002, 2003, and 2007 for Sivasakthivelan Nagar. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Puthagaram

In Puthagaram, there are 140 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft, with a median value of Rs 1,900 per sq.ft. The guideline value of Sivasakthivelan Nagar is above this median.

• Soorapattu Main Road: Rs 2,200 per sq.ft (2024)
• Sivaji Nagar: Rs 2,200 per sq.ft (2024)
• Shravanthi City: Rs 2,201 per sq.ft (2024)
• Sri Devi Avenue: Rs 1,600 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 2,201 per sq.ft (2024)
• Shanmuga Avenue: Rs 3,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthivelan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value would be Rs 30,00,000. The stamp duty is charged at 7%, amounting to Rs 2,10,000, while the registration fee at 2% would be Rs 60,000. Together, the total cost for stamp duty and registration would be Rs 2,70,000. It is important to note that the 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 Sivasakthivelan Nagar?

The Sivasakthivelan Nagar area is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

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

When buying or selling property, the guideline value helps to establish a fair transaction price, as it reflects the government’s assessment of the property’s worth. Buyers and sellers should be aware of this value to understand the financial implications of their real estate transactions.

Frequently asked questions

What is the current guideline value of Sivasakthivelan Nagar?

The current guideline value of Sivasakthivelan Nagar is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What are the stamp duty and registration fees in Sivasakthivelan Nagar?

For a property valued at Rs 30,00,000, the stamp duty would be Rs 2,10,000 and the registration fee would be Rs 60,000, totaling Rs 2,70,000.

Which office handles registrations for Sivasakthivelan Nagar?

The Ambattur Sub Registrar Office handles registrations for Sivasakthivelan Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the guideline value determined?

The guideline value is determined by the Registration Department and reflects the official valuation of properties in a specific area. It is used to calculate stamp duty and registration fees during property transactions.