Guideline Value for SIPPAI NAGAR 4TH STREET

Sippai Nagar 4th Street guideline value

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

The guideline value for Sippai Nagar 4th Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The value then increased significantly to Rs 2,000 per sq.ft in 2023, and most recently, it rose to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. 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 that carry a 2024 guideline value 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 equal to the 2024 figure for Sippai Nagar 4th Street.

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

Stamp duty and registration fee for property in Sippai Nagar 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 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 fees together to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sippai Nagar 4th Street?

The Sub Registrar Office that covers Sippai Nagar 4th Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process.

When registering a property, the guideline value is used to calculate the applicable duties and fees, ensuring that both parties are aware of the financial obligations involved in the sale or purchase of the property.

Frequently asked questions

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

The current guideline value of Sippai Nagar 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 is the land classification for Sippai Nagar 4th Street?

Sippai Nagar 4th Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Sippai Nagar 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 Sub Registrar Office covers Sippai Nagar 4th Street?

The Poonamallee Sub Registrar Office covers Sippai Nagar 4th Street, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.