Guideline Value for Siva Shanmugam Pillai Street

Siva Shanmugam Pillai Street guideline value

The current guideline value of Siva Shanmugam Pillai Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of Siva Shanmugam Pillai Street has changed

The guideline value for Siva Shanmugam Pillai Street has seen several revisions over the years. In 2002, the guideline value was Rs 540 per sq.ft, which increased to Rs 1,000 per sq.ft in 2003, marking an increase of 85%. The value continued to rise significantly, reaching Rs 3,000 per sq.ft in 2007, reflecting a 200% increase. By 2012, the value was Rs 6,000 per sq.ft, which represented a 100% increase from the previous revision. However, it dropped to Rs 4,020 per sq.ft in 2017, showing a decrease of 33%.

From 2017 to 2023, the guideline value increased to Rs 6,000 per sq.ft, marking a substantial rise of 49%. The most recent revision in 2024 set the guideline value at Rs 6,600 per sq.ft, a further increase of 10% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,122%.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Siva Shanmugam Pillai Street's 2024 figure above that median.

• Sivaraj Street 1st Junction: Rs 2,200 per sq.ft (2024)
• Sivaraj Street: Rs 2,200 per sq.ft (2024)
• Sivanantham Street: Rs 5,500 per sq.ft (2024)
• Sivanantham Colony: Rs 5,500 per sq.ft (2024)
• Solomon Street: Rs 1,320 per sq.ft (2024)
• Sivam Enclave Meenambal Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Shanmugam Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Siva Shanmugam Pillai Street?

The Sub Registrar Office that covers Siva Shanmugam Pillai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tambaram, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Siva Shanmugam Pillai Street?

The current guideline value of Siva Shanmugam Pillai Street is Rs 6,600 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 540 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting a total increase of 1,122% over this period.

What is the land classification for Siva Shanmugam Pillai Street?

The land classification for Siva Shanmugam Pillai Street is Commercial Class I Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Siva Shanmugam Pillai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in this area?

Stamp duty for properties in Siva Shanmugam Pillai Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.