Guideline Value for Sivasubramani Nagar 6th Main Road

Sivasubramani Nagar 6th Main Road guideline value

The current guideline value of Sivasubramani Nagar 6th Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Sivasubramani Nagar 6th Main Road has changed

The guideline value for Sivasubramani Nagar 6th Main Road has undergone several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision has further raised the guideline value to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 to 2024 revisions, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 2,750 per sq.ft, which is equal to the current value for Sivasubramani Nagar 6th Main Road.

• Sivasubramaniam Street/Ramalingam Nagar: Rs 2,750 per sq.ft (2024)
• Sivasubramaniyam Street: Rs 2,750 per sq.ft (2024)
• Sivasubramaniam Street, C.L.M.Bank Staff Colony, Ramalinga Nagar: Rs 2,750 per sq.ft (2024)
• Sivaram (Sivaraman) Street, Ram Nagar North: Rs 3,850 per sq.ft (2024)
• Sivaraman Street, Ram Nagar North Extension, Sadasivam Nagar: Rs 3,850 per sq.ft (2024)
• Sivaraman Street, Ram Nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasubramani Nagar 6th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. Duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivasubramani Nagar 6th Main Road?

The Sivasubramani Nagar 6th Main Road falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the prevailing market conditions, thereby safeguarding the interests of both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Sivasubramani Nagar 6th Main Road?

The current guideline value of Sivasubramani Nagar 6th Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the other guideline values in Madipakkam-1?

Other streets in Madipakkam-1 have guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft, which is equal to the current value for Sivasubramani Nagar 6th Main Road.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Sivasubramani Nagar 6th Main Road?

The Velacheri Sub Registrar Office handles registrations for Sivasubramani Nagar 6th Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.