Guideline Value for Sivasankaran Street

Sivasankaran Street guideline value

The current guideline value of Sivasankaran Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, and it is classified as Commercial Class I Type - III land.

How the guideline value of Sivasankaran Street has changed

In the 2003 revision, the guideline value was Rs 382 per sq.ft. This figure increased significantly to Rs 600 per sq.ft in the 2007 revision, marking a change of +57%. The value then surged to Rs 4,000 per sq.ft in 2012, reflecting a remarkable increase of +567%. However, in the 2017 revision, the value dropped to Rs 2,680 per sq.ft, a decrease of -33%. The most recent revision in 2024 saw the guideline value rise to Rs 4,400 per sq.ft, representing an increase of +64% from the previous figure.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +1052%. It is important to note that there are no figures available for the years 2023 and 2002 in the register for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are a total of 638 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Sivasankaran Street's 2024 figure above this median.

• Sivasanmugam Street: Rs 2,160 per sq.ft (2024)
• Siva Shanmugam Cross Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Avenue: Rs 2,750 per sq.ft (2024)
• Sivaraj Street: Rs 3,300 per sq.ft (2024)
• Solidam Workers Colony: Rs 3,300 per sq.ft (2024)
• Somasundaram Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasankaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sivasankaran Street?

The Sub Registrar Office that covers Sivasankaran Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Zaminpallavaram. It serves as a reference point for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a buyer or seller engages in a property transaction, the guideline value ensures that the registration process is standardized and transparent. This helps in avoiding discrepancies and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sivasankaran Street?

The current guideline value of Sivasankaran Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several changes, increasing from Rs 382 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024. Significant changes include a rise of +567% from 2007 to 2012 and a drop of -33% from 2012 to 2017.

What are the other streets in Zaminpallavaram?

Other streets in Zaminpallavaram include Sivasanmugam Street, Siva Shanmugam Cross Street, Sivasakthi Avenue, Sivaraj Street, Solidam Workers Colony, and Somasundaram Street, each with their respective guideline values for 2024.

What is the registration fee for property in Sivasankaran Street?

The registration fee for property in Sivasankaran Street is calculated at 2% of the guideline value. For a plot valued at Rs 44,00,000, the registration fee would be Rs 88,000.

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

The Sub Registrar Office for Sivasankaran Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.