Guideline Value for SILAPPATHIKARAM STREET (WARD -8)

Silappathikaram Street (Ward -8) guideline value

The current guideline value of Silappathikaram Street (Ward -8) is Rs 1,321 per sq.ft. 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 Silappathikaram Street (Ward -8) has changed

Over the years, the guideline value for Silappathikaram Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 804 per sq.ft. The next revision in 2023 increased the value to Rs 1,200 per sq.ft, which was a 49% increase from the previous figure. Currently, the guideline value stands at Rs 1,321 per sq.ft as of the 2024 revision, reflecting a 10% increase from 2023.

It's important to note that the register has no figures for this street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has 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 for 2024 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, making the current value of Silappathikaram Street above that median.

• Silapathiharam Cross Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Sindhamani Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Sidco Industrial Estate (Ward -8): Rs 1,321 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)
• Sinthamani Nagar Annex (Sa): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Silappathikaram 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 would be 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 these fees 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.

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

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

The Sub Registrar Office that covers Silappathikaram 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 further assistance.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Ninna Karai, this value is used to calculate the stamp duty and registration fees that must be paid during the registration process.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations and to accurately assess the costs associated with property transactions. This helps in avoiding any legal complications that may arise from undervaluing a property.

Frequently asked questions

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

The current guideline value of Silappathikaram 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 2023 to Rs 1,321 per sq.ft in 2024, marking a 10% increase. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification for Silappathikaram Street (Ward -8)?

The land classification for Silappathikaram Street (Ward -8) is Residential Special Type - V, indicating its designated use for residential purposes.

Where is the Sub Registrar Office for Silappathikaram Street (Ward -8) located?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2% of the guideline value. The total amount is based on the higher of the guideline value or the sale price.