Guideline Value for SILAPATHIHARAM CROSS STREET (WARD -8)

Silapathiharam Cross Street (Ward -8) guideline value

The current guideline value of Silapathiharam Cross Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Silapathiharam Cross Street (Ward -8) has changed

The guideline value for Silapathiharam Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in 2017. Following that, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,321 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, significant changes were observed. The value increased by 49% from 2017 to 2023, while there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Silapathiharam Cross Street's 2024 figure above that median.

• Silappathikaram Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Sidco Industrial Estate (Ward -8): Rs 1,321 per sq.ft (2024)
• Sindhamani Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Shri Kumaran Nagar: Rs 1,650 per sq.ft (2024)
• Singaravelan Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Sinthamani Nagar Annex (Pa): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Silapathiharam Cross Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, and the registration fee at 2% would be Rs 26,420, making the total cost for duty and registration Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Silapathiharam Cross Street (Ward -8)?

The Sub Registrar Office that covers Silapathiharam Cross Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable stamp duty and registration fees. This ensures that the registration process reflects the true market conditions and maintains transparency in property transactions.

Frequently asked questions

What is the current guideline value of Silapathiharam Cross Street (Ward -8)?

The current guideline value of Silapathiharam Cross Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the land classification for Silapathiharam Cross Street?

The land classification for Silapathiharam Cross Street (Ward -8) is Residential Special Type - V.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total cost for duty and registration would be Rs 1,18,890.

Where is the Sub Registrar Office for this street located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.