Guideline Value for Silicon Valley

Silicon Valley guideline value

The current guideline value of Silicon Valley, located in Sriperumbudur A village under the Sriperumpudur SRO, is Rs 700 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Silicon Valley has changed

The guideline value for Silicon Valley has undergone several revisions over the years. The oldest revision available is from 2017, where the guideline value was Rs 469 per sq.ft. This figure remained unchanged in the subsequent 2023 revision, which also recorded Rs 700 per sq.ft. With the latest revision in 2024, the guideline value remains at Rs 700 per sq.ft, showing no change from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by 49% as well, maintaining the same rate of Rs 700 per sq.ft since 2023.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The guideline value for Silicon Valley matches the median of Rs 700 per sq.ft. Below are other streets in Sriperumbudur A:

• Sir C.V. Raman Nagar: Rs 1,200 per sq.ft (2024)
• Sivan Koil Street: Rs 1,200 per sq.ft (2024)
• Sivanthangal Bajanai Koil Street: Rs 700 per sq.ft (2024)
• Sivanthangal Main Salai: Rs 800 per sq.ft (2024)
• Sivanthangal Mettu Street: Rs 700 per sq.ft (2024)
• Sivanthangal Palla Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Silicon Valley

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000. Together, the total cost for these fees would be Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For additional calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Silicon Valley?

The Sub Registrar Office that covers Silicon Valley is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Sriperumbudur A. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Silicon Valley?

The current guideline value of Silicon Valley is Rs 700 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How much has the guideline value changed over the years?

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. The value has remained unchanged at Rs 700 per sq.ft from 2023 to 2024.

What is the land classification for Silicon Valley?

Silicon Valley is classified as Residential Class III Type - I, which indicates its designated use for residential purposes.

Where is the Sub Registrar Office for Silicon Valley located?

The Sub Registrar Office for Silicon Valley is located at 27, Chetty Street, Sriperumpudur-602 105, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 700 per sq.ft results in a total guideline value of Rs 7,00,000, leading to a stamp duty of Rs 49,000 and a registration fee of Rs 14,000.