Guideline Value for S I S I Colony

S I S I Colony guideline value

The current guideline value of S I S I Colony, located in Ullagaram village under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - III land classification.

How the guideline value of S I S I Colony has changed

The guideline value for S I S I Colony has seen several revisions over the years. In 2002, the guideline value was Rs 242 per sq.ft, which increased to Rs 271 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,200 per sq.ft in 2007, and the value further increased to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017 before rising again to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft.

Between these revisions, notable changes include an increase of 12% from 2002 to 2003, a remarkable rise of 343% from 2003 to 2007, and a 192% increase from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, followed by a 49% increase from 2017 to 2023, and finally, an 11% rise from 2023 to 2024. There are no figures available for any revisions not listed for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a guideline value for 2024, ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value for S I S I Colony is above this median.

• S I S I Colony Samy Nagar: Rs 2,800 per sq.ft (2024)
• Solaiyappan Street: Rs 3,900 per sq.ft (2024)
• Sengazhani Amman Street: Rs 2,200 per sq.ft (2024)
• Selvaganapathi Koil Street South: Rs 2,800 per sq.ft (2024)
• Selvaganapathi Koil Street North: Rs 2,800 per sq.ft (2024)
• Selvaganapathi Koil Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in S I S I Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, resulting in a total of Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers S I S I Colony?

The Sub Registrar Office that covers S I S I Colony is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that all transactions are fairly assessed according to the established guideline values, which are regularly updated to reflect market conditions.

Frequently asked questions

What is the current guideline value of S I S I Colony?

The current guideline value of S I S I Colony is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 242 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, with several revisions in between.

What is the land classification for S I S I Colony?

S I S I Colony is classified as Residential Class I Type - III.

What is the registration office for S I S I Colony?

The registration office for S I S I Colony is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in S I S I Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 39,00,000, the stamp duty at 7% would be Rs 2,73,000.