Guideline Value for Sipcot Industrial Park

Sipcot Industrial Park guideline value

The current guideline value of Sipcot Industrial Park in Thandalam village is Rs 800 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur Sub Registrar Office (SRO) and is classified as Industries Type - I.

How the guideline value of Sipcot Industrial Park has changed

The guideline value for Sipcot Industrial Park has seen several revisions over the years. In 2007, the value was Rs 45 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a substantial rise of 1,678%. However, from 2012 to 2017, the value decreased to Rs 536 per sq.ft, a decline of 33%. The value then increased to Rs 800 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2007 to 2024, the guideline value has increased by 1,678%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thandalam

In Thandalam, there are 36 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,800 per sq.ft. The median value is Rs 400 per sq.ft, placing Sipcot Industrial Park's 2024 figure above this median.

• Sri Iyappa Nagar: Rs 200 per sq.ft (2024)
• Sakthi Enclave: Rs 800 per sq.ft (2024)
• Regency Park: Rs 505 per sq.ft (2024)
• Subasree Nagar: Rs 300 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 400 per sq.ft (2024)
• Rajiv Gandhi Main Road: Rs 505 per sq.ft (2024)

Stamp duty and registration fee for property in Sipcot Industrial Park

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total charges to Rs 72,000. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sipcot Industrial Park?

The Sipcot Industrial Park is covered by 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 Thandalam

The guideline value is a crucial factor in the registration process when buying or selling property in Thandalam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value helps in assessing the appropriate taxes due at the time of registration. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Sipcot Industrial Park?

The current guideline value of Sipcot Industrial Park is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 45 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and increased back to Rs 800 per sq.ft in 2023 and 2024.

What is the median guideline value in Thandalam?

The median guideline value in Thandalam is Rs 400 per sq.ft, with Sipcot Industrial Park's current value being above this median.

What are the stamp duty and registration fees for property in Sipcot Industrial Park?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot at Rs 800 per sq.ft, the total charges amount to Rs 72,000.

Which office handles registrations for Sipcot Industrial Park?

The Sriperumpudur Sub Registrar Office handles registrations for Sipcot Industrial Park, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.