Guideline Value for Siriya Street

Siriya Street guideline value

The current guideline value of Siriya Street in Pillaippakkam-A village is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Siriya Street has changed

In the 2017 revision, the guideline value for Siriya Street was Rs 134 per sq.ft. This value remained unchanged at Rs 200 per sq.ft in the 2023 revision and has continued at the same rate in the 2024 revision, indicating a 49% increase from the 2017 figure to the 2023 and 2024 figures. The register has no figures for the revisions in 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%. Therefore, the overall change from the 2017 revision to the 2024 revision is also a 49% increase, maintaining the same rate of Rs 200 per sq.ft for the last two revisions.

Guideline values in Pillaippakkam-A

There are 49 streets in Pillaippakkam-A under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,254 per sq.ft, with a median value of Rs 300 per sq.ft. Siriya Street's 2024 figure is below this median.

• Sivan Koil Street: Rs 300 per sq.ft (2024)
• Sri Bala Rathna Nagar: Rs 700 per sq.ft (2024)
• Sri Hari Krishna Nagar: Rs 400 per sq.ft (2024)
• Santhoshpuram Nagar Part II: Rs 500 per sq.ft (2024)
• Santhosapuram Nagar Part - II: Rs 500 per sq.ft (2024)
• Santhosapuram Nagar Part - I: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Siriya Street

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, leading to a total cost of Rs 18,000. 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 more details.

Which Sub Registrar Office covers Siriya Street?

The Sub Registrar Office that covers Siriya Street 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 Pillaippakkam-A

The guideline value is used as a benchmark for property transactions in Pillaippakkam-A. When buying or selling property, the guideline value helps determine the applicable stamp duty and registration fees.

It is essential to note that these fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Siriya Street?

The current guideline value of Siriya Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Siriya Street has remained at Rs 200 per sq.ft from 2023 to 2024, and increased by 49% from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023 and 2024.

What are the other streets in Pillaippakkam-A?

Other streets in Pillaippakkam-A include Sivan Koil Street, Sri Bala Rathna Nagar, Sri Hari Krishna Nagar, and various parts of Santhosapuram Nagar, with guideline values ranging from Rs 300 to Rs 700 per sq.ft in 2024.

What is the stamp duty rate for property in Siriya Street?

The stamp duty rate for property transactions in Siriya Street is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Siriya Street located?

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