Guideline Value for Siggirindapalayam 11th Street

Siggirindapalayam 11th Street guideline value

The current guideline value of Siggirindapalayam 11th Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Siggirindapalayam 11th Street has changed

Over the years, the guideline value of Siggirindapalayam 11th Street has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, this was followed by a decrease to Rs 804 per sq.ft in 2017, reflecting a 33% drop. The value then rose again to Rs 1,200 per sq.ft in 2023, and most recently to Rs 1,300 per sq.ft in 2024, representing an 8% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 117%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry 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. Siggirindapalayam 11th Street's 2024 guideline value is below this median.

• Siggirindapalayam 10th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 12th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 1st Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 2nd Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 3rd Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 4th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Siggirindapalayam 11th 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, charged at 7%, would be Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, the total cost for these fees would be Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Siggirindapalayam 11th Street?

The Siggirindapalayam 11th Street falls under the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the market conditions. This process is essential for maintaining transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Siggirindapalayam 11th Street?

The current guideline value of Siggirindapalayam 11th 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, reflecting an overall increase of 117% over the years.

What is the median guideline value in Tondaiarpet?

The median guideline value in Tondaiarpet is Rs 1,600 per sq.ft, while Siggirindapalayam 11th Street's 2024 value is below this median.

What are the stamp duty and registration fees for properties in Siggirindapalayam 11th Street?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,17,000.

Where can I find the Sub Registrar Office for Siggirindapalayam 11th Street?

The Royapuram Sub Registrar Office covers Siggirindapalayam 11th Street and is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.