Guideline Value for SIPPOYLANE

Sippoylane guideline value

The current guideline value of Sippoylane 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 Sippoylane has changed

The guideline value for Sippoylane has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 400%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 450%. The register has no figures for the years 2002 and 2003 for Sippoylane.

Guideline values in Poonthamallee

Poonthamallee village has 257 streets under the Poonamallee SRO, with guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current value for Sippoylane.

• Sippai Nagar Main Street: Rs 2,200 per sq.ft (2024)
• Sippai Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Sippai Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sippai Nagar 2nd Street: 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 Sippoylane

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 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 Sippoylane?

The Sub Registrar Office that covers Sippoylane 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 applicable during the sale or purchase of property.

When a property is sold or purchased, the guideline value helps in ensuring that the transaction is recorded at a fair value, which is necessary for legal and financial purposes. Buyers and sellers should be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sippoylane?

The current guideline value of Sippoylane 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 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various revisions in between, including a significant increase of 400% from 2007 to 2012.

What are the stamp duty and registration fees for property in Sippoylane?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000. The stamp duty at 7% is Rs 1,54,000, and the registration fee at 2% is Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Sippoylane?

The Poonamallee Sub Registrar Office covers Sippoylane, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification for Sippoylane?

Sippoylane is classified as Residential Class II Type - I, which is important for understanding the zoning and permissible uses of the land.