Guideline Value for Sivashanmugam Nagar

Sivashanmugam Nagar guideline value

The current guideline value of Sivashanmugam Nagar in Puthuper village, under the Sriperumpudur SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sivashanmugam Nagar has changed

The guideline value for Sivashanmugam Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 52 per sq.ft, which significantly increased to Rs 400 per sq.ft in the 2012 revision. However, between 2012 and 2017, there was a decrease to Rs 268 per sq.ft, before rising again to Rs 400 per sq.ft in both the 2023 and 2024 revisions, with no change between these two years.

In summary, the guideline value rose from Rs 52 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, marking an overall increase of 669%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puthuper

In Puthuper village, there are 39 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 1,350 per sq.ft. The median value is Rs 400 per sq.ft, which is the same as the guideline value for Sivashanmugam Nagar.

• Sivashanmugam Nagar Annex: Rs 400 per sq.ft (2024)
• Sivashanmugam Nagar Annex-III: Rs 400 per sq.ft (2024)
• Sri Ganapathy Garden: Rs 400 per sq.ft (2024)
• Sekar Avenue: Rs 410 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 400 per sq.ft (2024)
• Sriram Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivashanmugam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sivashanmugam Nagar?

The Sub Registrar Office that covers Sivashanmugam Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Puthuper. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a buyer or seller engages in a property transaction, the guideline value is referenced to ensure compliance with local regulations. This value helps in calculating the financial obligations related to the transaction, ensuring transparency and fairness in the process.

Frequently asked questions

What is the current guideline value of Sivashanmugam Nagar?

The current guideline value of Sivashanmugam Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 52 per sq.ft in 2007, rising to Rs 400 per sq.ft in 2012, dropping to Rs 268 per sq.ft in 2017, and remaining at Rs 400 per sq.ft in both 2023 and 2024.

What are the other streets in Puthuper with similar guideline values?

Other streets in Puthuper with a guideline value of Rs 400 per sq.ft include Sivashanmugam Nagar Annex, Sivashanmugam Nagar Annex-III, and Sri Ganapathy Garden.

What is the stamp duty rate for property in Sivashanmugam Nagar?

The stamp duty rate for property transactions in Sivashanmugam Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sivashanmugam Nagar?

The Sub Registrar Office for Sivashanmugam Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.