Guideline Value for Nagathamman Koil Street (Siruniyam Colony)

Nagathamman Koil Street (Siruniyam Colony) guideline value

The current guideline value for Nagathamman Koil Street (Siruniyam Colony) is Rs 220 per sq.ft, effective from 1 July 2024. This street is located in Siruniyam village, under the Redhills SRO, classified as Residential Class III Type - I.

How the guideline value of Nagathamman Koil Street (Siruniyam Colony) has changed

The guideline value for Nagathamman Koil Street has undergone several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased to Rs 200 per sq.ft in 2012. However, it decreased to Rs 134 per sq.ft in 2017. The value then rose significantly to Rs 200 per sq.ft in 2023, and currently stands at Rs 220 per sq.ft in the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 reflects a 10% rise. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Siruniyam

In Siruniyam village, there are 32 streets under the Redhills SRO that have a guideline value for 2024, ranging from Rs 220 to Rs 1,500 per sq.ft, with a median value of Rs 440 per sq.ft. Nagathamman Koil Street's current guideline value is below this median.

• Muthukumaran Nagar Part II: Rs 1,000 per sq.ft (2024)
• Muthukumaran Nagar Part-I: Rs 1,000 per sq.ft (2024)
• Parthasarathy Nagar: Rs 825 per sq.ft (2024)
• Parthasarathy Nagar Annex: Rs 825 per sq.ft (2024)
• Madha Koil Street: Rs 330 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Nagathamman Koil Street (Siruniyam Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, while the registration fee at 2% would be Rs 4,400, totaling Rs 19,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Nagathamman Koil Street (Siruniyam Colony)?

The Sub Registrar Office that covers Nagathamman Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Siruniyam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Nagathamman Koil Street?

The current guideline value for Nagathamman Koil Street (Siruniyam Colony) is Rs 220 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Over the years, the guideline value has seen several changes, from Rs 100 per sq.ft in 2007 to Rs 220 per sq.ft in 2024, marking an overall increase of 120% from 2007 to 2024.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Nagathamman Koil Street is charged at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 2,20,000 would incur a stamp duty of Rs 15,400.

Which office handles property registrations in Siruniyam?

The Redhills Sub Registrar Office is responsible for property registrations in Siruniyam. It is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is revised periodically. It reflects the minimum value at which properties in a particular area can be registered for transaction purposes.