Guideline Value for SIPPAI LINE UDAIYAR STREET

Sippai Line Udaiyar Street guideline value

The current guideline value of Sippai Line Udaiyar 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 Udaiyar Street has changed

The guideline value for Sippai Line Udaiyar Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the Rs 1,340 per sq.ft recorded in the 2017 revision. The 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest 2024 revision raised it to Rs 2,200 per sq.ft, marking a 10% increase.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Poonthamallee

In Poonthamallee, there are 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 Udaiyar Street.

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

Stamp duty and registration fee for property in Sippai Line Udaiyar 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 amount to 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 the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sippai Line Udaiyar Street?

The Sippai Line Udaiyar Street falls under the jurisdiction of 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 in the registration process of property transactions in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to assess the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sippai Line Udaiyar Street?

The current guideline value of Sippai Line Udaiyar 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 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. The value was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

What is the land classification for Sippai Line Udaiyar Street?

Sippai Line Udaiyar Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

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

Where is the Sub Registrar Office for Sippai Line Udaiyar Street located?

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