Guideline Value for Sadasiva Pillai Lane / Street

Sadasiva Pillai Lane / Street guideline value

The current guideline value of Sadasiva Pillai Lane / Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village under the Periamet SRO and falls under the Residential Class I Type - I land classification.

How the guideline value of Sadasiva Pillai Lane / Street has changed

Over the years, the guideline value of Sadasiva Pillai Lane / Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 600 per sq.ft, which increased dramatically to Rs 4,500 per sq.ft in 2012, marking a 650% increase. However, in the following revision in 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a 33% drop. The value then rose to Rs 4,500 per sq.ft in 2023, and most recently, it has reached Rs 4,900 per sq.ft in the 2024 revision, showing a 9% increase from the previous year. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 4,500 per sq.ft. The overall change from the 2007 revision to the current 2024 revision represents a substantial increase of 717% in the guideline value per sq.ft.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Sadasiva Pillai Lane / Street above this median with its current value of Rs 4,900 per sq.ft.

• Sadasiva Pillai Street: Rs 4,400 per sq.ft (2024)
• Rex Street: Rs 2,500 per sq.ft (2024)
• Sami Pandaram Street: Rs 6,000 per sq.ft (2024)
• Sathyavani Muthu nagar Hut: Rs 2,500 per sq.ft (2024)
• Seshagiri Iyer street: Rs 2,600 per sq.ft (2024)
• RajaGopal Naicken Street: Rs 2,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sadasiva Pillai Lane / Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total cost for these fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sadasiva Pillai Lane / Street?

The Sub Registrar Office that covers Sadasiva Pillai Lane / Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chindadripet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the transaction costs. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Sadasiva Pillai Lane / Street?

The current guideline value of Sadasiva Pillai Lane / Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, representing an overall increase of 717%.

What was the guideline value in 2023?

The guideline value of Sadasiva Pillai Lane / Street in 2023 was Rs 4,500 per sq.ft.

Which office handles property registrations for Sadasiva Pillai Lane / Street?

The Periamet Sub Registrar Office handles property registrations for Sadasiva Pillai Lane / Street, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Sadasiva Pillai Lane / Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,43,000.