Guideline Value for Sidharth Nagar

Sidharth Nagar guideline value

The current guideline value of Sidharth Nagar, located in Nanmangalam village, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class I Type - III.

How the guideline value of Sidharth Nagar has changed

The guideline value for Sidharth Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 66 per sq.ft. It increased to Rs 94 per sq.ft in 2003, marking a change of +42%. Following this, the value rose significantly to Rs 300 per sq.ft in 2007, which represented a substantial increase of +219%. The guideline value then jumped to Rs 1,800 per sq.ft in 2012, showing a remarkable increase of +500%. However, it decreased to Rs 1,206 per sq.ft in 2017, reflecting a decline of -33%.

In the most recent revisions, the guideline value increased to Rs 1,800 per sq.ft in 2023, and then to Rs 1,980 per sq.ft in 2024, which is a rise of +10%. Overall, from 2002 to 2024, the guideline value has increased by +2900%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, indicating that Sidharth Nagar's 2024 figure is below this median.

• Siddhanathar Nagar: Rs 2,750 per sq.ft (2024)
• Siddathatha Nagar 1 To 6 Streets: Rs 2,750 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 Sidharth Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sidharth Nagar?

The Sub Registrar Office that covers Sidharth Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Nanmangalam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and complies with legal requirements.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the financial aspects of property registration. The guideline value reflects the minimum value at which properties are registered, providing a standard for transactions in the area.

Frequently asked questions

What is the current guideline value of Sidharth Nagar?

The current guideline value of Sidharth Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 66 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of +2900% over this period.

What is the land classification of Sidharth Nagar?

Sidharth Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 1,78,200, including both fees.

Where is the Sub Registrar Office for Sidharth Nagar located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.