Guideline Value for Sigamani Street / Shivashankaran Nagar

Sigamani Street / Shivashankaran Nagar guideline value

The current guideline value of Sigamani Street / Shivashankaran Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, classified as Residential Class II Type - II.

How the guideline value of Sigamani Street / Shivashankaran Nagar has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 200 per sq.ft, which increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, a substantial increase of 59%. Following this, the 2017 revision set the value at Rs 1,206 per sq.ft, reflecting a remarkable 235% increase from the previous revision. The 2023 revision saw the value rise to Rs 1,800 per sq.ft, a 49% increase. The current 2024 revision has set the value at Rs 1,980 per sq.ft, which is a 10% increase from 2023. Notably, there is no figure available for this street in the 2012 revision.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a guideline value for 2024, ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value of Sigamani Street / Shivashankaran Nagar is below this median.

• Sigamani Street / Ganapathy Nagar: Rs 1,980 per sq.ft (2024)
• Sindalamman Koil 1st Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Sindalamman Koil Street: Rs 1,980 per sq.ft (2024)
• Singal Office Salai / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Singal Office West Street, Anna Nagar: Rs 2,750 per sq.ft (2024)
• Shongvel Street / Thandai Periyar Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Sigamani Street / Shivashankaran 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 be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sigamani Street / Shivashankaran Nagar?

The Sub Registrar Office that covers Sigamani Street / Shivashankaran Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

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

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Sigamani Street / Shivashankaran Nagar?

The current guideline value of Sigamani Street / Shivashankaran 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 increased significantly from Rs 200 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 890% over the years.

What is the land classification of Sigamani Street / Shivashankaran Nagar?

Sigamani Street / Shivashankaran Nagar is classified as Residential Class II Type - II.

Where can I find the registration office for this area?

The registration office for Sigamani Street / Shivashankaran Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 at a rate of 7%.