Guideline Value for Sippai Nagar

Sippai Nagar guideline value

The current guideline value of Sippai Nagar, located in Chennerkuppam village under the Kunrathur SRO, is Rs 1,430 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - III land classification.

How the guideline value of Sippai Nagar has changed

Since the 2007 revision, when the guideline value was Rs 450 per sq.ft, there have been several changes. The value increased significantly by 189% to Rs 1,300 per sq.ft in 2012, followed by a decrease of 33% to Rs 871 per sq.ft in 2017. The 2023 revision saw a substantial increase of 49% to Rs 1,300 per sq.ft, which then rose by 10% to the current value of Rs 1,430 per sq.ft in 2024. There are no figures available for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 218%. The revisions reflect the changing landscape of real estate in the area, with the most recent revision marking a notable rise in value.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, which means Sippai Nagar's 2024 figure is below that median.

• Sindu Nagar: Rs 1,540 per sq.ft (2024)
• Sokkammal Nagar: Rs 1,430 per sq.ft (2024)
• Sri Ambal Nagar: Rs 1,540 per sq.ft (2024)
• Sri Ambal Nagar Lakshmi Avenue: Rs 1,540 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,815 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sippai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, resulting in a total of Rs 1,28,700. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sippai Nagar?

The Sippai Nagar area falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chennerkuppam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it's essential to be aware of the current guideline value, as it can significantly impact the overall cost involved in the registration process. Buyers should ensure that they are informed about these values to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Sippai Nagar?

The current guideline value of Sippai Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 450 per sq.ft to Rs 1,430 per sq.ft in 2024, marking an overall increase of 218%.

What is the registration office for Sippai Nagar?

The registration office covering Sippai Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated in Sippai Nagar?

Stamp duty in Sippai Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is an additional 2% of the guideline value.

Where can I find more information about the guideline values in Chennerkuppam?

For more information about the guideline values in Chennerkuppam, you can refer to the registration department's guideline value register or check specific street values listed on the site.