Guideline Value for Silappadhigara Street

Silappadhigara Street guideline value

The current guideline value of Silappadhigara Street in Peerklankaranai village is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of Silappadhigara Street has changed

The guideline value for Silappadhigara Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,800 per sq.ft. This figure decreased to Rs 1,206 per sq.ft in 2017, marking a decline of 33%. However, the value saw a significant increase to Rs 1,800 per sq.ft in 2023, followed by another rise to Rs 1,980 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median value is Rs 1,650 per sq.ft, placing Silappadhigara Street's 2024 value above this median.

• Silappadhigara Cross Street: Rs 1,980 per sq.ft (2024)
• Sivagami street: Rs 1,650 per sq.ft (2024)
• Sivasangaran Street: Rs 1,980 per sq.ft (2024)
• Shankar Street: Rs 1,650 per sq.ft (2024)
• Senthil Murugan Street: Rs 1,980 per sq.ft (2024)
• Senbagam Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Silappadhigara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. 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 Silappadhigara Street?

The Sub Registrar Office that covers Silappadhigara Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value plays a crucial role in the registration process of property transactions in Peerklankaranai. It is used to determine the stamp duty and registration fees that buyers must pay, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the registration reflects the true value of the property being exchanged.

Frequently asked questions

What is the current guideline value of Silappadhigara Street?

The current guideline value of Silappadhigara Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen fluctuations, starting from Rs 1,800 in 2012, decreasing to Rs 1,206 in 2017, then rising to Rs 1,800 in 2023, and finally reaching Rs 1,980 in 2024.

What is the median guideline value in Peerklankaranai?

The median guideline value in Peerklankaranai is Rs 1,650 per sq.ft, with Silappadhigara Street's current value above this median.

What are the stamp duty rates for properties in Silappadhigara Street?

The stamp duty rate for properties in Silappadhigara Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for properties in this area?

The Tambaram Joint 1 Sub Registrar Office handles registrations for properties in Silappadhigara Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.