Guideline Value for SIPPAI LINE 2ND STREET

Sippai Line 2nd Street guideline value

The current guideline value of Sippai Line 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sippai Line 2nd Street has changed

The guideline value for Sippai Line 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision raised the value to Rs 2,000 per sq.ft, and the latest 2024 revision has increased it to Rs 2,200 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The transition from 2023 to 2024 reflects a 10% increase. Overall, comparing the 2012 and 2024 revisions, the guideline value has risen by 10%.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which matches the current guideline value of Sippai Line 2nd Street.

• Sippai Line 1st Street: Rs 2,200 per sq.ft (2024)
• Sippai Line 3rd Street: Rs 2,200 per sq.ft (2024)
• Sippai Line 4th Street: Rs 2,200 per sq.ft (2024)
• Sippai Line Main Street: Rs 2,200 per sq.ft (2024)
• Sippai line street: Rs 2,200 per sq.ft (2024)
• Sippai Line Udaiyar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sippai Line 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sippai Line 2nd Street?

The Sippai Line 2nd Street is covered by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is used as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of transactions and ensures compliance with legal requirements during property registration.

Frequently asked questions

What is the current guideline value of Sippai Line 2nd Street?

The current guideline value of Sippai Line 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the stamp duty for property in Sippai Line 2nd Street?

The stamp duty for a property valued at Rs 22,00,000 in Sippai Line 2nd Street is Rs 1,54,000, calculated at 7% of the guideline value.

Which office handles property registrations for Sippai Line 2nd Street?

The Poonamallee Sub Registrar Office handles property registrations for Sippai Line 2nd Street, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification for Sippai Line 2nd Street?

Sippai Line 2nd Street is classified as Residential Class II Type - I, which indicates its zoning for residential use.