Guideline Value for Sivasankaran Lane

Sivasankaran Lane guideline value

The current guideline value of Sivasankaran Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This lane is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class IV Type - I.

How the guideline value of Sivasankaran Lane has changed

Over the years, the guideline value of Sivasankaran Lane has seen several revisions. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 10% increase. Overall, comparing the 2012 figure to the current 2024 value, there is a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Sivasankaran Lane's current value below this median.

• Sivasankaran Street: Rs 2,200 per sq.ft (2024)
• Sivasanmugam Street: Rs 2,200 per sq.ft (2024)
• Sivashankara Mudaliar Nagar / Street: Rs 2,500 per sq.ft (2024)
• Sivashankaran Street: Rs 2,500 per sq.ft (2024)
• Sivashankaran Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Sivaraj Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasankaran Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Sivasankaran Lane?

The Sub Registrar Office that covers Sivasankaran Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Erukancherry. It determines 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, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sivasankaran Lane?

The current guideline value of Sivasankaran Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and currently to Rs 2,200 per sq.ft in 2024.

What is the land classification for Sivasankaran Lane?

Sivasankaran Lane is classified as Residential Class IV Type - I under the Madhavaram SRO.

What are the stamp duty and registration fees for property here?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office should I approach for registration?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, is the office for registration related to Sivasankaran Lane.