Guideline Value for SSI NAGAR

Ssi Nagar guideline value

The current guideline value of Ssi Nagar, located in Vilangadupakkam village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Ssi Nagar has changed

The guideline value for Ssi Nagar has seen several revisions over the years. In 2012, the value was set at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. Following this, the value rose significantly to Rs 400 per sq.ft in 2023, and then to Rs 440 per sq.ft in 2024, marking a 10% increase from the previous year. The overall change from 2012 to 2024 reflects a 10% increase.

From 2017 to 2023, there was a substantial increase of 49%, while the revision from 2012 to 2017 saw a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO, with guideline values ranging from Rs 365 to Rs 1,792 per sq.ft. The median guideline value is Rs 440 per sq.ft, which is equal to the current value of Ssi Nagar.

• Ssi Nagar Phase - I: Rs 440 per sq.ft (2024)
• S.R.V. Nagar: Rs 440 per sq.ft (2024)
• Sri Vigneswara Nagar: Rs 770 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 770 per sq.ft (2024)
• Sri Venkateshwara Nagar Part - 4: Rs 440 per sq.ft (2024)
• Sri Venkateshwara Nagar Part - 2: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Ssi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ssi Nagar?

The Ssi Nagar area is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as stamp duty and registration fees are based on the higher of the guideline value or the sale price.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are paid. This process is essential for maintaining transparency and legality in real estate transactions in Vilangadupakkam.

Frequently asked questions

What is the current guideline value of Ssi Nagar?

The current guideline value of Ssi Nagar is Rs 440 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 2012 to Rs 268 per sq.ft in 2017, then rose to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Ssi Nagar?

Ssi Nagar is classified as Residential Class III Type - I, which indicates its designation for residential use.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Ssi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 4,40,000 would incur a stamp duty of Rs 30,800.