Guideline Value for Siggirindapalayam 2nd Street

Siggirindapalayam 2nd Street guideline value

The current guideline value of Siggirindapalayam 2nd 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, and is classified as Residential Class II Type - I.

How the guideline value of Siggirindapalayam 2nd Street has changed

Looking at the historical revisions, the guideline value for Siggirindapalayam 2nd Street has undergone several changes. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. The 2023 revision saw an increase to Rs 1,200 per sq.ft, followed by the latest 2024 revision, which raised it to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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. The median value for these streets is Rs 1,600 per sq.ft, indicating that Siggirindapalayam 2nd Street's current guideline value is below this median.

• Siggirindapalayam 1st Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 3rd Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 12th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 4th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 11th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 5th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Siggirindapalayam 2nd 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 charges 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.

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

Which Sub Registrar Office covers Siggirindapalayam 2nd Street?

The Sub Registrar Office that covers Siggirindapalayam 2nd Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find more information, you can find your SRO.

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

The guideline value is a critical factor in property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum sale price of a property, ensuring that the transaction is registered at a value that reflects the current market conditions as per government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the registration process. This ensures that both the buyer and seller are aware of the financial implications of their transaction based on the established guideline values.

Frequently asked questions

What is the current guideline value for Siggirindapalayam 2nd Street?

The current guideline value for Siggirindapalayam 2nd 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 back to Rs 1,200 per sq.ft in 2023, and finally up to Rs 1,300 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

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.

Which office handles registrations for Siggirindapalayam 2nd Street?

The Royapuram Sub Registrar Office handles registrations for Siggirindapalayam 2nd Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Siggirindapalayam 2nd Street?

Siggirindapalayam 2nd Street is classified as Residential Class II Type - I, indicating its suitability for residential development.