Guideline Value for Silapathikaram Street

Silapathikaram Street guideline value

The current guideline value of Silapathikaram Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Silapathikaram Street has changed

The guideline value for Silapathikaram Street has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in the 2017 revision. In 2023, the guideline value increased to Rs 600 per sq.ft, and the most recent revision in 2024 raised it to Rs 880 per sq.ft, marking a significant increase of 47% from the previous year.

Between the years, the changes in guideline value reflect fluctuations in the market. From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 47%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. Silapathikaram Street's 2024 guideline value is below this median.

• Shirdi Avenue: Rs 4,750 per sq.ft (2024)
• Sivasakthi Nagar: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar 1st Street: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar 2nd Street: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar 3rd Street: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar 4th Street: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Silapathikaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Silapathikaram Street?

The Sub Registrar Office that covers Silapathikaram Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value impacts the stamp duty and registration fees that are payable. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher, which can significantly affect the overall expenses involved in the transaction.

Frequently asked questions

What is the current guideline value of Silapathikaram Street?

The current guideline value of Silapathikaram Street is Rs 880 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 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Silapathikaram Street?

Silapathikaram Street is classified as Residential Class IV Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 79,200 in fees.