Guideline Value for Sidambaram Nagar

Sidambaram Nagar guideline value

The current guideline value of Sidambaram Nagar, located in Malayambakkam village under the Kunrathur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Sidambaram Nagar has changed

Over the years, the guideline value of Sidambaram Nagar has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. However, this changed significantly in the 2023 revision, where the value increased to Rs 800 per sq.ft, and further rose to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2012 revision to the 2024 revision, the overall increase in guideline value is 47%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 935 per sq.ft, indicating that the 2024 figure for Sidambaram Nagar is below that median.

• S.M Nagar: Rs 935 per sq.ft (2024)
• S.R.D. Nagar: Rs 935 per sq.ft (2024)
• S.R.D. Royal City Annexe: Rs 935 per sq.ft (2024)
• Sri Boopathy Nagar: Rs 2,200 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 935 per sq.ft (2024)
• Sri Gayathiri Doctor's Enclave: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sidambaram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sidambaram Nagar?

The Sidambaram Nagar area falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

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

When you register a property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are mandatory for any property transaction. This ensures transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Sidambaram Nagar?

The current guideline value of Sidambaram Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers Sidambaram Nagar?

The Kunrathur Sub Registrar Office covers Sidambaram Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Sidambaram Nagar?

The land classification for Sidambaram Nagar is Residential Class I Type - II, indicating its suitability for residential development.