Guideline Value for Siggirindapalayam 8th Street

Siggirindapalayam 8th Street guideline value

The current guideline value of Siggirindapalayam 8th 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 8th Street has changed

Over the years, the guideline value of Siggirindapalayam 8th Street has seen significant changes. The earliest recorded figure is from the 2007 revision, which was Rs 600 per sq.ft. This increased to Rs 804 per sq.ft in 2017, marking a rise of 34%. The value then jumped to Rs 1,200 per sq.ft in 2023, reflecting a substantial increase of 49%. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an 8% increase from the previous year.

It is important to note that there are no figures available for the revisions in 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 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, placing Siggirindapalayam 8th Street's 2024 figure below that median.

• Siggirindapalayam 7th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 9th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 6th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 5th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 4th Street: Rs 1,300 per sq.ft (2024)
• Siggirindapalayam 3rd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Siggirindapalayam 8th 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 fees to 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.

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

Which Sub Registrar Office covers Siggirindapalayam 8th Street?

The Siggirindapalayam 8th 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 is an essential factor during the registration of property transactions. It serves as the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property in Tondaiarpet, it is crucial to be aware of the guideline value as it directly impacts the financial aspects of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid issues during registration.

Frequently asked questions

What is the current guideline value of Siggirindapalayam 8th Street?

The current guideline value of Siggirindapalayam 8th 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 significantly from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over this period.

What are the stamp duty and registration fees for property transactions?

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 Sub Registrar Office covers Siggirindapalayam 8th Street?

The Royapuram Sub Registrar Office covers Siggirindapalayam 8th Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Siggirindapalayam 8th Street?

Siggirindapalayam 8th Street is classified as Residential Class II Type - I.