Guideline Value for Siddhi Vinayagar Koil Street

Siddhi Vinayagar Koil Street guideline value

The current guideline value of Siddhi Vinayagar Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Siddhi Vinayagar Koil Street has changed

The guideline value for Siddhi Vinayagar Koil Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. Following this, the 2023 revision saw a significant increase to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,650 per sq.ft.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, which matches the current guideline value of Siddhi Vinayagar Koil Street.

• Siththapathy Street: Rs 1,650 per sq.ft (2024)
• Shaw Wallas Colony: Rs 2,750 per sq.ft (2024)
• Shaw Wallas avenue: Rs 2,750 per sq.ft (2024)
• Sharmila St: Rs 3,850 per sq.ft (2024)
• Sharangapani Street: Rs 1,320 per sq.ft (2024)
• Shanthi Avenue 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Siddhi Vinayagar Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Siddhi Vinayagar Koil Street?

The Sub Registrar Office that covers Siddhi Vinayagar Koil Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Siddhi Vinayagar Koil Street?

The current guideline value of Siddhi Vinayagar Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Siddhi Vinayagar Koil Street?

Siddhi Vinayagar Koil Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Siddhi Vinayagar Koil Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated on properties in Chitlapakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.