Guideline Value for Siggirindapalayam 1st Street

Siggirindapalayam 1st Street guideline value

The current guideline value of Siggirindapalayam 1st 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 SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Siggirindapalayam 1st Street has changed

Looking at the historical revisions, the guideline value for Siggirindapalayam 1st Street has seen several changes. In 2012, the value was Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,200 per sq.ft in 2023, and has now increased to Rs 1,300 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows an increase of 8% in the guideline value.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with a 2024 guideline value range from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Siggirindapalayam 1st Street's 2024 figure below that median. Here are some other streets in Tondaiarpet:

• Siggirindapalayam 12th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 2nd Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 11th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 3rd Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 10th 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 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to 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 duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Siggirindapalayam 1st Street?

The Sub Registrar Office that covers Siggirindapalayam 1st 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 serves as a benchmark for property transactions in Tondaiarpet. When buying or selling property, this value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official assessment of property worth.

It is essential for buyers and sellers to be aware of the guideline value as it impacts the overall cost of the transaction, including the fees payable at the time of registration. This ensures transparency and helps in maintaining a standard for property transactions in the area.

Frequently asked questions

What is the current guideline value of Siggirindapalayam 1st Street?

The current guideline value of Siggirindapalayam 1st 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 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Siggirindapalayam 1st Street?

The land classification for Siggirindapalayam 1st Street is Residential Class II Type - I.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Siggirindapalayam 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.