Guideline Value for WEST SIVAN KOIL 2ND STREET

West Sivan Koil 2nd Street guideline value

The current guideline value of West Sivan Koil 2nd Street is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of West Sivan Koil 2nd Street has changed

The guideline value for West Sivan Koil 2nd Street has seen several revisions over the years. The earliest recorded figure is Rs 750 per sq.ft in 2002, which increased to Rs 824 per sq.ft in 2003, marking a 10% rise. Following this, the value rose significantly to Rs 1,300 per sq.ft in 2007, reflecting a 58% increase. The value continued to grow, reaching Rs 5,800 per sq.ft in 2012, a substantial 346% increase from the previous revision. However, it then dropped to Rs 3,886 per sq.ft in 2017, showing a decrease of 33%.

In the subsequent revisions, the guideline value increased to Rs 5,800 per sq.ft in 2023, a 49% rise from the 2017 figure. The most recent revision in 2024 set the value at Rs 6,300 per sq.ft, a 9% increase from the previous year. There are no figures available for other years for this street in the register.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing West Sivan Koil 2nd Street's 2024 figure above that median.

• West Sivan Koil 1st Street: Rs 6,300 per sq.ft (2024)
• West Namasivayapuram 7th Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 6th Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 5th Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 4th Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 3rd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in West Sivan Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value amounts to Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, bringing the total costs together to Rs 5,67,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers West Sivan Koil 2nd Street?

The Sub Registrar Office that covers West Sivan Koil 2nd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puliyur. It serves as a reference point for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official rates set by the government.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with legal requirements. This value helps in establishing a fair transaction process and is essential for maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of West Sivan Koil 2nd Street?

The current guideline value of West Sivan Koil 2nd Street is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2002 to Rs 6,300 per sq.ft in 2024, reflecting an overall increase of 740% over the years.

What is the land classification for West Sivan Koil 2nd Street?

The land classification for West Sivan Koil 2nd Street is Residential Special Type - III.

What is the stamp duty for a property in West Sivan Koil 2nd Street?

The stamp duty for a property in West Sivan Koil 2nd Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for West Sivan Koil 2nd Street located?

The Sub Registrar Office for West Sivan Koil 2nd Street is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.