Guideline Value for Sigamani Nagar

Sigamani Nagar guideline value

The current guideline value of Sigamani Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This locality is situated in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sigamani Nagar has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, there has been a significant increase of 62%, bringing the current guideline value to Rs 1,300 per sq.ft.

The register does not have figures for the years 2002, 2003, 2007, and 2023 for this street. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 8%.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that Sigamani Nagar's 2024 figure is below this median.

• Simmam Avenue (Ward-29): Rs 1,600 per sq.ft (2024)
• Simmam Nagar: Rs 1,300 per sq.ft (2024)
• Simman Avenue (Vinayagapuram): Rs 1,300 per sq.ft (2024)
• Sidco Nagar: Rs 2,450 per sq.ft (2024)
• Shiyalan Naicker Street (Ward-01): Rs 1,600 per sq.ft (2024)
• Siva Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sigamani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sigamani Nagar?

The Sub Registrar Office that covers Sigamani Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When you proceed with a property transaction, the guideline value will influence the stamp duty and registration fees applicable. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sigamani Nagar?

The current guideline value of Sigamani Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,300 per sq.ft in 2024. Overall, from 2012 to 2024, there has been an 8% increase.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are calculated based on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Sigamani Nagar?

The Madhavaram Sub Registrar Office covers Sigamani Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Sigamani Nagar?

Sigamani Nagar is classified as Residential Class III Type - I, indicating its designation for residential use within the locality.