Guideline Value for Sivasankaran Street

Sivasankaran Street guideline value

The current guideline value of Sivasankaran Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sivasankaran Street has changed

In the 2012 revision, the guideline value for Sivasankaran Street was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, there was a significant increase in the following revisions, with the value rising to Rs 2,500 per sq.ft in 2023, and further increasing to Rs 2,700 per sq.ft in 2024, which is an 8% increase from the previous year. The overall change from 2012 to 2024 shows an increase of 8%.

The register has no figures for the years 2002, 2003, and 2007 for this street. Thus, the only revisions we can reference are from 2012, 2017, 2023, and 2024.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which aligns with the current value of Sivasankaran Street.

• Solaiamman Koil 1st Street: Rs 2,700 per sq.ft (2024)
• Solaiamman Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Solaiamman Koil 2nd Street: Rs 2,700 per sq.ft (2024)
• Solaiamman Koil 3rd Street: Rs 2,700 per sq.ft (2024)
• Solaiamman Koil 4th Street: Rs 2,700 per sq.ft (2024)
• Solai Amman Koil Street (Koyyathoppu): Rs 2,200 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. 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 more precise calculations.

Which Sub Registrar Office covers Sivasankaran Street?

The Sivasankaran Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that both parties are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Sivasankaran Street?

The current guideline value of Sivasankaran Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase being from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase.

What is the land classification for Sivasankaran Street?

Sivasankaran Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Sivasankaran Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.