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 1,320 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village under the Chengleput Joint II SRO, classified as 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. In 2012, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a significant decrease to Rs 804 per sq.ft, marking a drop of 33%. The value then increased to Rs 1,200 per sq.ft in the 2023 revision, followed by a rise to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are a total of 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, positioning Silapathiharam Cross Street (Ward -8) above this median at Rs 1,320 per sq.ft.

• Silappathikaram Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Sidco Industrial Estate (Ward -8): Rs 1,320 per sq.ft (2024)
• Sindhamani Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Singaravelan Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Sinthamani Nagar Annex (Pa): Rs 660 per sq.ft (2024)
• Sinthamani Nagar Annex (Sa): 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sattamangalam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from 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 1,320 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 increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the classification of land in 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 a property in this area?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Silapathiharam Cross Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Silapathiharam Cross Street (Ward -8), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.