Guideline Value for Sithan Pagan Nagar

Sithan Pagan Nagar guideline value

The current guideline value of Sithan Pagan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO, classified as Residential Class IV Type - I.

How the guideline value of Sithan Pagan Nagar has changed

Over the years, the guideline value of Sithan Pagan Nagar has seen significant changes. The earliest recorded revision was in 2003, where the value was Rs 290 per sq.ft. This increased to Rs 700 per sq.ft in 2007, marking a rise of 141%. The value then jumped to Rs 2,000 per sq.ft in 2012, reflecting a substantial increase of 186%. However, from 2012 to 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The guideline value then rose again to Rs 2,000 per sq.ft in 2023, followed by a further increase to the current rate of Rs 2,200 per sq.ft in 2024, which is a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 659%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Sithan Pagan Nagar is below this median.

• Sivanandha Nagar: Rs 2,200 per sq.ft (2024)
• Sivaparvathi Nagar: Rs 2,200 per sq.ft (2024)
• Sivaparvathi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sithan Pagan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees total Rs 1,98,000. 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 Sithan Pagan Nagar?

The Sub Registrar Office that covers Sithan Pagan Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

During the registration process, the guideline value ensures that properties are valued fairly, providing a standard for taxation and ensuring compliance with local regulations. It is essential for both parties in a transaction to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sithan Pagan Nagar?

The current guideline value of Sithan Pagan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 290 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 659% over this period.

What is the registration fee for property in Sithan Pagan Nagar?

The registration fee for property in Sithan Pagan Nagar is calculated at 2% of the guideline value. For a plot valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Sithan Pagan Nagar?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 22,00,000, the stamp duty would amount to Rs 1,54,000.