Guideline Value for Sirpi Nagar (part - I)

Sirpi Nagar (part - I) guideline value

The current guideline value of Sirpi Nagar (part - I) is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Gooduvancheri village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Sirpi Nagar (part - I) has changed

The guideline value for Sirpi Nagar (part - I) has remained consistent at Rs 1,500 per sq.ft since the 2023 revision, which also recorded the same figure. Prior to that, in the 2017 revision, the guideline value was Rs 1,005 per sq.ft, marking a 49% increase from 2017 to 2023. The register has no figures for the revisions in 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 49%. The 2024 guideline value of Rs 1,500 per sq.ft aligns with the median value for the 129 streets in Gooduvancheri under the Gooduvancheri SRO, which range from Rs 1,000 to Rs 3,500 per sq.ft.

Guideline values in Gooduvancheri

In Gooduvancheri, the guideline values for various streets range from Rs 1,000 to Rs 3,500 per sq.ft, with the median value being Rs 1,500 per sq.ft. Sirpi Nagar (part - I) shares its 2024 guideline value with this median figure.

• Sirpi Nagar (Part - II): Rs 1,500 per sq.ft (2024)
• Singaram Nagar: Rs 1,200 per sq.ft (2024)
• Shyam Nagar: Rs 1,200 per sq.ft (2024)
• Shunmugam Nagar Phase I: Rs 1,200 per sq.ft (2024)
• Shunmugam Nagar: Rs 1,000 per sq.ft (2024)
• Shankar Ganesh Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sirpi Nagar (part - I)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total fees to Rs 1,35,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Sirpi Nagar (part - I)?

The Sub Registrar Office that covers Sirpi Nagar (part - I) is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Gooduvancheri. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when acquiring property in the area.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately, reflecting the legal and financial obligations of both the buyer and the seller. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sirpi Nagar (part - I)?

The current guideline value of Sirpi Nagar (part - I) is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft since the 2023 revision. Prior to that, it was Rs 1,005 per sq.ft in 2017, reflecting a 49% increase over the years.

What is the land classification of Sirpi Nagar (part - I)?

Sirpi Nagar (part - I) is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sirpi Nagar (part - I)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,500 per sq.ft would incur a total guideline value of Rs 15,00,000, leading to stamp duty and registration fees based on that amount.