Guideline Value for SIDDHI VINAYAGAR KOIL STREET

Siddhi Vinayagar Koil Street guideline value

The current guideline value of Siddhi Vinayagar Koil Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Siddhi Vinayagar Koil Street has changed

The guideline value for Siddhi Vinayagar Koil Street has seen several revisions over the years. The earliest recorded figure is Rs 1,245 per sq.ft in 2002, which increased to Rs 1,382 per sq.ft in 2003, a rise of 11%. Following this, the value rose to Rs 2,000 per sq.ft in 2007, marking a significant increase of 45%. The guideline value then jumped to Rs 6,000 per sq.ft in 2012, reflecting a 200% increase. However, it decreased to Rs 4,020 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 6,000 per sq.ft in 2023, before reaching the current rate of Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 430%. There are no figures available for revisions in years other than those listed above.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that have a guideline value for 2024, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Siddhi Vinayagar Koil Street's 2024 figure below that median.

• Singaram Street: Rs 8,300 per sq.ft (2024)
• Singaravelu Street: Rs 11,000 per sq.ft (2024)
• Sivagnanam St: Rs 8,300 per sq.ft (2024)
• Shivaji Street: Rs 11,000 per sq.ft (2024)
• Sivaprakasam Street: Rs 8,300 per sq.ft (2024)
• Sivasailam Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Siddhi Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Siddhi Vinayagar Koil Street?

The Sub Registrar Office that covers Siddhi Vinayagar Koil Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Siddhi Vinayagar Koil Street?

The current guideline value of Siddhi Vinayagar Koil Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,245 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 430% over the years.

What is the stamp duty rate for properties in Siddhi Vinayagar Koil Street?

The stamp duty rate for properties in Siddhi Vinayagar Koil Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Siddhi Vinayagar Koil Street?

The Sub Registrar Office for Siddhi Vinayagar Koil Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

What are the other streets in Tnagar with guideline values?

Other streets in Tnagar with guideline values include Singaram Street at Rs 8,300 per sq.ft, Singaravelu Street at Rs 11,000 per sq.ft, and Sivasailam Street at Rs 14,300 per sq.ft, among others.