Guideline Value for Sirumathur Road

Sirumathur Road guideline value

The current guideline value of Sirumathur Road is Rs 1,320 per sq.ft, effective from 1 July 2024. This road is located in Padappai village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sirumathur Road has changed

The guideline value for Sirumathur Road has seen several revisions over the years. The earliest recorded revision was in 2017, where the value stood at Rs 804 per sq.ft. In 2023, this figure increased to Rs 1,200 per sq.ft, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, reflecting a further increase of 10% from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%, highlighting the changes in property valuation over this period.

Guideline values in Padappai

In Padappai village, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median value across these streets is Rs 830 per sq.ft, placing the guideline value of Sirumathur Road above this median.

• Sivan Nagar: Rs 1,320 per sq.ft (2024)
• Sivasakthi Nagar: Rs 660 per sq.ft (2024)
• S.K.Avenue: Rs 830 per sq.ft (2024)
• S K Avenue S.No 426/2b, 426/2b1, 426/2b1b, 426/2b1a1c: Rs 3,300 per sq.ft (2024)
• Shanmuga Nagar: Rs 990 per sq.ft (2024)
• Shakthi Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sirumathur Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sirumathur Road?

The Sub Registrar Office that covers Sirumathur Road is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Padappai. It serves as a benchmark for determining the value of properties during registration. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

When registering a property, the guideline value will be used to calculate the stamp duty and registration fees. This ensures that the transaction is officially documented and that the appropriate taxes are paid based on the assessed value of the property.

Frequently asked questions

What is the current guideline value of Sirumathur Road?

The current guideline value of Sirumathur Road is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the land classification for Sirumathur Road?

Sirumathur Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Sirumathur Road?

The registration office for Sirumathur Road is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Sirumathur Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.