Guideline Value for SACHCHIYYAKUPPAM

Sachchiyyakuppam guideline value

The current guideline value for Sachchiyyakuppam is Rs 2,150 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sachchiyyakuppam has changed

The guideline value for Sachchiyyakuppam has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 119 per sq.ft. This increased to Rs 141 per sq.ft in 2003, marking an 18% rise. The value then saw a significant increase to Rs 500 per sq.ft in 2007, which is a 255% change. Following that, the guideline value rose to Rs 2,000 per sq.ft in 2012, representing a 300% increase from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, a decline of 33% from 2012.

From 2017, the guideline value increased to Rs 2,000 per sq.ft in 2023, a substantial rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,150 per sq.ft, marking an 8% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,707%.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Sachchiyyakuppam's current value below this median.

• Sadayanguppam Pattai: Rs 3,300 per sq.ft (2024)
• Rottikara Madam Street: Rs 3,300 per sq.ft (2024)
• Sakthi Ganapathi Nagar: Rs 1,500 per sq.ft (2024)
• R.M.V. Nagar: Rs 1,500 per sq.ft (2024)
• Retaimalai Srinivasan Nagar: Rs 3,300 per sq.ft (2024)
• Sannathi Street: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sachchiyyakuppam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value would be Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, totaling Rs 1,93,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sachchiyyakuppam?

The Sub Registrar Office that covers Sachchiyyakuppam is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvottiyur. It is used to determine the amount of stamp duty and registration fees payable, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as determined by the government. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Sachchiyyakuppam?

The current guideline value of Sachchiyyakuppam is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, rising from Rs 119 per sq.ft in 2002 to Rs 2,150 per sq.ft in 2024, which is an overall increase of 1,707%.

What is the registration office for Sachchiyyakuppam?

The registration office for Sachchiyyakuppam is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated in Sachchiyyakuppam?

Stamp duty in Sachchiyyakuppam is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.

What are the other streets in Thiruvottiyur and their guideline values?

Other streets in Thiruvottiyur have varying guideline values. For example, Sadayanguppam Pattai and Rottikara Madam Street both have a guideline value of Rs 3,300 per sq.ft for 2024, while Sakthi Ganapathi Nagar and R.M.V. Nagar are at Rs 1,500 per sq.ft.