Guideline Value for Sivashanmugam Street (S.V.Nagar)

Sivashanmugam Street (S.V.Nagar) guideline value

The current guideline value of Sivashanmugam Street (S.V.Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO with a land classification of Residential Class II Type - I.

How the guideline value of Sivashanmugam Street (S.V.Nagar) has changed

The guideline value for Sivashanmugam Street (S.V.Nagar) has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and currently stands at Rs 1,600 per sq.ft as per the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 7% in the guideline value.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the guideline value of Sivashanmugam Street (S.V.Nagar) below this median.

• Sivashanmugam Pillai Street: Rs 1,600 per sq.ft (2024)
• Sivaraman Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Sivaraj Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Sivankoil Street: Rs 1,600 per sq.ft (2024)
• Sivaji Ganesan Street (S.V. Nagar): Rs 1,600 per sq.ft (2024)
• Sir.C.V.Raman Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sivashanmugam Street (S.V.Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivashanmugam Street (S.V.Nagar)?

The Sub Registrar Office that covers Sivashanmugam Street (S.V.Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Oragadam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency in transactions and helps in determining the applicable fees based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Sivashanmugam Street (S.V.Nagar)?

The current guideline value of Sivashanmugam Street (S.V.Nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and is currently Rs 1,600 per sq.ft as of 2024.

What is the land classification for Sivashanmugam Street (S.V.Nagar)?

Sivashanmugam Street (S.V.Nagar) is classified as Residential Class II Type - I.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Sivashanmugam Street (S.V.Nagar)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,12,000 at the current guideline value.