Guideline Value for Siddhanathar Nagar

Siddhanathar Nagar guideline value

The current guideline value of Siddhanathar Nagar, located in Nanmangalam village, is Rs 2,750 per sq.ft. This value is effective from the 2024 revision and falls under the Residential Class I Type - I land classification, managed by the Pallavaram SRO.

How the guideline value of Siddhanathar Nagar has changed

The guideline value for Siddhanathar Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 55 per sq.ft, which increased to Rs 90 per sq.ft in 2003. Following this, there was a substantial rise to Rs 300 per sq.ft in 2007. The value then jumped dramatically to Rs 2,500 per sq.ft in 2012, but this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The next revision in 2023 brought the value back up to Rs 2,500 per sq.ft, and the most recent revision in 2024 set it at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by a remarkable 4,900%. The changes between the revisions show significant fluctuations, with the largest increase occurring from 2007 to 2012, where the value rose by 733%. In contrast, there was a notable decrease of 33% between 2012 and 2017.

Guideline values in Nanmangalam

Nanmangalam village has a range of guideline values across its 139 streets under the Pallavaram SRO. The 2024 figures for these streets range from Rs 1,960 to Rs 3,850 per sq.ft, with the median value being Rs 2,750 per sq.ft. Siddhanathar Nagar's 2024 guideline value aligns with this median.

• Siddathatha Nagar 1 To 6 Streets: Rs 2,750 per sq.ft (2024)
• Sidharth Nagar: Rs 1,980 per sq.ft (2024)
• Sither Kudiirupu (Pazhndi Amman Koil St.): Rs 1,960 per sq.ft (2024)
• Sivanandam Street: Rs 2,750 per sq.ft (2024)
• Senthil nagar: Rs 1,960 per sq.ft (2024)
• Selvaraj Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Siddhanathar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty, calculated at 7%, would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, these fees would total Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Siddhanathar Nagar?

The Sub Registrar Office that covers Siddhanathar Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Nanmangalam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is considered in the registration of property transactions.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a value that reflects the official rates set by the government. This ensures transparency and compliance with local regulations regarding property sales.

Frequently asked questions

What is the current guideline value of Siddhanathar Nagar?

The current guideline value of Siddhanathar Nagar is Rs 2,750 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 55 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 4,900% over this period.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000. The stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Siddhanathar Nagar?

The Pallavaram Sub Registrar Office covers Siddhanathar Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the range of guideline values in Nanmangalam?

The guideline values in Nanmangalam range from Rs 1,960 to Rs 3,850 per sq.ft, with the median value being Rs 2,750 per sq.ft, which is the same as the guideline value for Siddhanathar Nagar.