Guideline Value for SILAMBU STREET

Silambu Street guideline value

The current guideline value of Silambu Street in Puliyur village, under the Kodambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - II land classification.

How the guideline value of Silambu Street has changed

The guideline value for Silambu Street has seen several revisions over the years. In 2002, the value was Rs 511 per sq.ft, which increased to Rs 561 per sq.ft in 2003. The value then rose significantly to Rs 900 per sq.ft in 2007, followed by a substantial jump to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017 before climbing to Rs 4,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value for Silambu Street has increased by 761%. There are no figures available for the revisions in years other than those listed.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. The guideline value of Silambu Street is below this median.

• Shyamala Vadhana 2nd Street: Rs 7,100 per sq.ft (2024)
• Shyamala Vadhana 1st Street: Rs 7,100 per sq.ft (2024)
• Shyamalavadana Cross Street: Rs 7,100 per sq.ft (2024)
• Sivagami Street: Rs 4,400 per sq.ft (2024)
• Sivanandha Salai: Rs 7,100 per sq.ft (2024)
• Sivan Koil 1st Cross Street: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Silambu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Silambu Street?

The Sub Registrar Office that covers Silambu Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Puliyur. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall cost of the transaction. Understanding the guideline value helps in making informed decisions when engaging in property transactions within the region.

Frequently asked questions

What is the current guideline value of Silambu Street?

The current guideline value of Silambu Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 511 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for Silambu Street?

Silambu Street is classified as Residential Class IV Type - II under the land classification system.

Where can I find the Sub Registrar Office for Silambu Street?

The Sub Registrar Office for Silambu Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Silambu Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 4,400 per sq.ft would incur a stamp duty of Rs 3,08,000.