Guideline Value for SIGAMANI STREET

Sigamani Street guideline value

The current guideline value of Sigamani Street in Chinnasekkadu village, under the Thiruvottiyur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sigamani Street has changed

The guideline value for Sigamani Street has undergone several revisions over the years. In the 2003 revision, the value was Rs 178 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007. The 2012 revision saw a slight increase to Rs 1,200 per sq.ft, but this was followed by a decrease to Rs 804 per sq.ft in 2017. The value then rose sharply to Rs 1,200 per sq.ft in 2023 before reaching the current figure of Rs 1,300 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2003 to 2007, there was an increase of 181%; from 2007 to 2012, a decrease of 33%; from 2012 to 2017, a decrease of 33%; and from 2017 to 2023, an increase of 49%. The most recent change from 2023 to 2024 reflects an increase of 8%. Overall, from 2003 to 2024, the guideline value has increased by 630%.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Sigamani Street's 2024 figure above this median.

• Rathinam Street: Rs 1,000 per sq.ft (2024)
• Swamidas Street: Rs 1,001 per sq.ft (2024)
• Ramalingaswamy Koil Street: Rs 1,001 per sq.ft (2024)
• Raji Street / Raji Naickan Street: Rs 1,300 per sq.ft (2024)
• Raghavan Street: Rs 1,300 per sq.ft (2024)
• Radha Street/Nagar: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Sigamani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sigamani Street?

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

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

The guideline value is an essential factor in the registration process when buying or selling property in Chinnasekkadu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in the official register. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Sigamani Street?

The current guideline value of Sigamani Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 178 per sq.ft in 2003 to Rs 1,300 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value for streets in Chinnasekkadu?

The median guideline value for streets in Chinnasekkadu is Rs 1,100 per sq.ft, with Sigamani Street's 2024 figure being above this median.

What are the stamp duty and registration fees for a property on Sigamani Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations for Sigamani Street?

The Thiruvottiyur Sub Registrar Office handles property registrations for Sigamani Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.