Guideline Value for SIPPAI LINE 3RD STREET

Sippai Line 3rd Street guideline value

The current guideline value of Sippai Line 3rd 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 3rd Street has changed

The guideline value for Sippai Line 3rd Street has undergone several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The years 2002, 2003, and 2007 have no figures available for this street in the register.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Sippai Line 3rd Street.

• Sippai Line 1st Street: Rs 2,200 per sq.ft (2024)
• Sippai Line 2nd 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be 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 or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sippai Line 3rd Street?

The Sub Registrar Office covering Sippai Line 3rd Street is 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 a crucial factor when registering property transactions in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sippai Line 3rd Street?

The current guideline value of Sippai Line 3rd 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 to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Sippai Line 3rd Street?

Sippai Line 3rd Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Sippai Line 3rd Street?

The Sub Registrar Office for Sippai Line 3rd Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the stamp duty rate for property in Poonthamallee?

The stamp duty rate for property transactions in Poonthamallee is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.