Guideline Value for SILAPPATHIKARAM STREET (WARD -8)

Silappathikaram Street (Ward -8) guideline value

The current guideline value of Silappathikaram Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam 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

The guideline value for Silappathikaram Street has seen 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 the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200, and then further rose to Rs 1,320 in the 2024 revision, reflecting a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Therefore, the only revisions that provide figures are from 2012, 2017, 2023, and 2024.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO with 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, placing Silappathikaram Street's 2024 figure above this median.

• Silapathiharam Cross Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Sindhamani Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Sidco Industrial Estate (Ward -8): 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 Silappathikaram 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, making the total cost for these fees Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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 more information.

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

The guideline value is a crucial factor in property transactions within Sattamangalam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly influences the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value serves as a benchmark for calculating the associated costs. It is essential to ensure that the sale price meets or exceeds the guideline value to avoid any discrepancies during the registration process.

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 1,320 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 2023 to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase. It was Rs 804 per sq.ft in 2017, showing a significant increase of 49% to reach the 2023 figure.

What is the land classification for Silappathikaram Street?

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

What are the stamp duty and registration fees for properties on this street?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Silappathikaram Street?

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