Guideline Value for Sifea Nagar

Sifea Nagar guideline value

The current guideline value of Sifea Nagar, located in Katrampakkam village, is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Sifea Nagar has changed

The guideline value for Sifea Nagar has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 60 per sq.ft. This increased significantly to Rs 250 per sq.ft in 2012, marking a 317% rise. However, the value dropped to Rs 167 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision maintained the value at Rs 250 per sq.ft, and the current 2024 revision also holds it at Rs 250 per sq.ft, reflecting no change from the previous year.

It is important to note that the register has no figures for Sifea Nagar in the years 2002 and 2003. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 317%.

Guideline values in Katrampakkam

Katrampakkam village has a total of 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value. The values range from Rs 150 to Rs 800 per sq.ft, with the median being Rs 250 per sq.ft. The guideline value of Sifea Nagar aligns with this median.

• Selliyamman Koil Street: Rs 300 per sq.ft (2024)
• Sri Bangaru Kamachi Amman Nagar: Rs 250 per sq.ft (2024)
• Sathiya Sai Nagar: Rs 250 per sq.ft (2024)
• Sri Eswara Nagar: Rs 400 per sq.ft (2024)
• Sri Mangadu Kamatchi Nagar: Rs 250 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sifea Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty, charged at 7%, would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, resulting in a total of Rs 22,500. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sifea Nagar?

The Sifea Nagar area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Katrampakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that transactions are recorded at a fair value as determined by the government.

When a property is sold, the higher of the guideline value or the sale price is considered for the purpose of calculating duties. This ensures that the state collects appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sifea Nagar?

The current guideline value of Sifea Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 60 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, followed by a decrease to Rs 167 per sq.ft in 2017, and then remaining at Rs 250 per sq.ft in both 2023 and 2024.

What are the guideline values of other streets in Katrampakkam?

Other streets in Katrampakkam have varying guideline values, ranging from Rs 150 to Rs 800 per sq.ft. Some notable streets include Selliyamman Koil Street at Rs 300 per sq.ft and Sri Eswara Nagar at Rs 400 per sq.ft.

What fees are associated with purchasing property in Sifea Nagar?

When purchasing property in Sifea Nagar, buyers should consider the stamp duty, which is 7% of the guideline value, and the registration fee, which is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Sifea Nagar?

The Sub Registrar Office covering Sifea Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information about it online.