Guideline Value for Silikan Road

Silikan Road guideline value

The current guideline value of Silikan Road is Rs 5,000 per sq.ft, effective from 1 July 2024. This road is located in Kottur village, under the Adayar SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Silikan Road has changed

Over the years, the guideline value of Silikan Road has seen several revisions. The earliest recorded revision in 2002 set the guideline value at Rs 1,820 per sq.ft. This increased to Rs 1,961 per sq.ft in 2003, marking an 8% rise. The value continued to rise, reaching Rs 3,000 per sq.ft in 2007, which was a 53% increase from the previous revision. Following this, the value increased to Rs 4,500 per sq.ft in 2012, representing a 50% jump. However, between 2012 and 2017, the guideline value decreased by 33% to Rs 3,015 per sq.ft. The subsequent revision in 2023 saw a significant increase to Rs 4,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 5,000 per sq.ft, reflecting an 11% increase.

It is important to note that the register has no figures for the years between the listed revisions. The overall increase from 2002 to 2024 is 175%.

Guideline values in Kottur

Kottur village features a range of guideline values across its 114 streets under the Adayar SRO, with figures for 2024 ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value is Rs 6,100 per sq.ft, placing Silikan Road's 2024 guideline value below this median.

• South Lock Road: Rs 6,600 per sq.ft (2024)
• Sowbakya Avenue: Rs 6,100 per sq.ft (2024)
• Sardar Patel Road: Rs 15,400 per sq.ft (2024)
• Srinivasa Murthy Avenue: Rs 5,000 per sq.ft (2024)
• Sri Ram Nagar 1st Street: Rs 5,000 per sq.ft (2024)
• Sri Ram Nagar 2nd Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Silikan Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees together to Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Silikan Road?

The Sub Registrar Office that covers Silikan Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is crucial when buying or selling property, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues. The registration process will require adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Silikan Road?

The current guideline value of Silikan Road is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,820 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 175%.

What is the role of the Adayar SRO?

The Adayar SRO is responsible for the registration of property transactions in Kottur and surrounding areas, ensuring that all transactions adhere to the guideline values set by the registration department.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value or sale price.

Where can I find more information about my Sub Registrar Office?

You can find more information about your Sub Registrar Office by visiting the provided link to locate your SRO.