Guideline Value for Sivasanmugam Street

Sivasanmugam Street guideline value

The current guideline value of Sivasanmugam Street is Rs 2,160 per sq.ft. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sivasanmugam Street has changed

The guideline value of Sivasanmugam Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 146 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007, marking a change of +311%. The value then rose to Rs 2,000 per sq.ft in 2012, reflecting a substantial increase of +233%. However, in the 2017 revision, it decreased to Rs 1,340 per sq.ft, a drop of -33%. The value then increased to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,160 per sq.ft, an increase of +8%.

Overall, from 2003 to 2024, the guideline value has increased by +1379%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Sivasanmugam Street's 2024 figure below that median.

• Siva Shanmugam Cross Street: Rs 3,300 per sq.ft (2024)
• Sivasankaran Street: Rs 4,400 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 Sivasanmugam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sivasanmugam Street?

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

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Zaminpallavaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair value as per government regulations.

When you register a property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the property transaction process. It is important to be aware of the current guideline value to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Sivasanmugam Street?

The current guideline value of Sivasanmugam Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 146 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of +1379% over this period.

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

For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 1,51,200, and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Which Sub Registrar Office covers Sivasanmugam Street?

The Pallavaram Sub Registrar Office covers Sivasanmugam Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Sivasanmugam Street?

Sivasanmugam Street is classified as Residential Class III Type - I, indicating its designation for residential purposes within the area.