Guideline Value for SIDDATHATHA NAGAR 1 TO 6 STREETS

Siddathatha Nagar 1 To 6 Streets guideline value

The current guideline value for Siddathatha Nagar 1 To 6 Streets is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Siddathatha Nagar 1 To 6 Streets has changed

The guideline value for Siddathatha Nagar 1 To 6 Streets has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the Rs 1,675 per sq.ft recorded in the 2017 revision. The value remained the same in the 2023 revision at Rs 2,500 per sq.ft, before increasing to Rs 2,750 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the value increased significantly by 49%. Overall, from the 2012 revision to the current 2024 figure, there has been a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median guideline value is Rs 2,750 per sq.ft, which matches the current value for Siddathatha Nagar 1 To 6 Streets.

• Siddhanathar Nagar: Rs 2,750 per sq.ft (2024)
• Sidharth Nagar: Rs 1,980 per sq.ft (2024)
• Sither Kudiirupu (Pazhndi Amman Koil St.): Rs 1,960 per sq.ft (2024)
• Sivanandam Street: Rs 2,750 per sq.ft (2024)
• Senthil nagar: Rs 1,960 per sq.ft (2024)
• Selvaraj Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Siddathatha Nagar 1 To 6 Streets

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

You can use the stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Siddathatha Nagar 1 To 6 Streets?

The Sub Registrar Office that covers Siddathatha Nagar 1 To 6 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Nanmangalam. It determines the amount of stamp duty and registration fees that must be paid during the transaction process.

When a property is bought or sold, the guideline value serves as a reference point for calculating these fees, ensuring that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value for Siddathatha Nagar 1 To 6 Streets?

The current guideline value for Siddathatha Nagar 1 To 6 Streets 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 changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, which is a 10% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification for Siddathatha Nagar 1 To 6 Streets?

Siddathatha Nagar 1 To 6 Streets is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for properties in this area?

The registration office for Siddathatha Nagar 1 To 6 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty rates for property transactions in Siddathatha Nagar?

The stamp duty for property transactions in Siddathatha Nagar is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.