Guideline Value for Sipcot Industrial Estate

Sipcot Industrial Estate guideline value

The current guideline value of Sipcot Industrial Estate is Rs 330 per sq.ft, effective from 1 July 2024. This property is located in Old Gummidipoondi village, under the Gummidipoondi SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sipcot Industrial Estate has changed

Since the 2002 revision, the guideline value has undergone several changes. The 2002 figure was Rs 105 per sq.ft, which increased to Rs 120 per sq.ft in 2003, marking a 14% rise. The value then saw a 25% increase to Rs 150 per sq.ft in 2007. In 2012, the value was revised to Rs 300 per sq.ft, reflecting a 100% increase from the previous revision. However, in 2017, it dropped to Rs 201 per sq.ft, a decrease of 33%. The value then rose to Rs 300 per sq.ft in 2023, before reaching the current figure of Rs 330 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 214%. It is important to note that the register has no figure for this street for any other years not listed.

Guideline values in Old Gummidipoondi

In Old Gummidipoondi, there are 90 streets under the Gummidipoondi SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,210 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value of Sipcot Industrial Estate is below this median.

• Shree Ragavandhira City: Rs 660 per sq.ft (2024)
• Shirdi Sai Baba Nagar: Rs 330 per sq.ft (2024)
• Srinivasa Colony: Rs 220 per sq.ft (2024)
• Saranya Nagar Ward No.9 Door No.1-4: Rs 660 per sq.ft (2024)
• Santhu Street Ward No.2 Door No.1-35: Rs 330 per sq.ft (2024)
• St. Mary School Street Ward No.11 Door No.1-43: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sipcot Industrial Estate

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sipcot Industrial Estate?

The Sipcot Industrial Estate is covered by the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Old Gummidipoondi. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction adheres to the regulations set by the Registration Department. Buyers and sellers should be aware of the guideline value to understand their financial obligations during property transactions.

Frequently asked questions

What is the current guideline value of Sipcot Industrial Estate?

The current guideline value of Sipcot Industrial Estate is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 105 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, marking an overall increase of 214% over the years.

What is the classification of land in Sipcot Industrial Estate?

Sipcot Industrial Estate is classified as Residential Class III Type - I.

Where can I find the Gummidipoondi Sub Registrar Office?

The Gummidipoondi Sub Registrar Office is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.

How is stamp duty calculated for properties in Sipcot Industrial Estate?

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 the current rate results in a total guideline value of Rs 3,30,000, leading to applicable duties of Rs 23,100 and Rs 6,600 for stamp duty and registration fee, respectively.