Guideline Value for SIPPAI LINE 4TH STREET

Sippai Line 4th Street guideline value

The current guideline value of Sippai Line 4th 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 4th Street has changed

The guideline value for Sippai Line 4th Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. Subsequently, the value increased to Rs 2,000 per sq.ft in 2023, and finally rose to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 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 Poonthamallee

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

• Sippai Line 3rd Street: Rs 2,200 per sq.ft (2024)
• Sippai Line Main Street: Rs 2,200 per sq.ft (2024)
• Sippai Line 2nd Street: Rs 2,200 per sq.ft (2024)
• Sippai line street: Rs 2,200 per sq.ft (2024)
• Sippai Line 1st 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 4th 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, bringing the total cost for these fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sippai Line 4th Street?

The Sippai Line 4th Street falls under the jurisdiction of the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Poonthamallee. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, both the buyer and seller should be aware that the guideline value may influence the sale price. The registration office will assess the property based on the guideline value, and the fees will be calculated accordingly.

Frequently asked questions

What is the current guideline value of Sippai Line 4th Street?

The current guideline value of Sippai Line 4th 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 are the stamp duty and registration fees for properties in Sippai Line 4th Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Sippai Line 4th Street?

The Poonamallee Sub Registrar Office handles property registrations for Sippai Line 4th Street, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification for Sippai Line 4th Street?

Sippai Line 4th Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.