Guideline Value for Siggirindapalayam 5th Street

Siggirindapalayam 5th Street guideline value

The current guideline value of Siggirindapalayam 5th Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Siggirindapalayam 5th Street has changed

The guideline value for Siggirindapalayam 5th Street has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft. This increased to Rs 804 per sq.ft in 2017, marking a change of 34%. Following that, the value rose significantly to Rs 1,200 per sq.ft in 2023, which was a 49% increase from the previous figure. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, reflecting an 8% increase from 2023.

There are no figures available for the years 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Siggirindapalayam 5th Street is below this median.

• Siggirindapalayam 4th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 6th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 3rd Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 7th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 2nd Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 8th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Siggirindapalayam 5th Street

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, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Siggirindapalayam 5th Street?

The Sub Registrar Office covering Siggirindapalayam 5th Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information, you can find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Tondaiarpet. It is used to determine the stamp duty and registration fees applicable during the property transaction. Buyers should be aware that the guideline value is a reference point for the government to assess the value of the property for taxation purposes.

When registering a property, the guideline value ensures that the transaction is recorded at a value that reflects the local real estate market. This helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Siggirindapalayam 5th Street?

The current guideline value of Siggirindapalayam 5th Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, showing an overall increase of 117% over the years.

What are the guideline values of other streets in Tondaiarpet?

Other streets in Tondaiarpet have a guideline value of Rs 1,300 per sq.ft in 2024, similar to Siggirindapalayam 5th Street.

What fees are associated with buying property in Siggirindapalayam 5th Street?

When buying property, the stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For a 1,000 sq.ft plot, these fees would total Rs 1,17,000.

Where can I find the Sub Registrar Office for Siggirindapalayam 5th Street?

The Sub Registrar Office for Siggirindapalayam 5th Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.