Guideline Value for Siyali Koil Street

Siyali Koil Street guideline value

The current guideline value of Siyali Koil Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the jurisdiction of the Triplicane SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Siyali Koil Street has changed

The guideline value for Siyali Koil Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,560 per sq.ft. This figure increased significantly to Rs 6,000 per sq.ft in 2012, marking a substantial rise of 285%. However, between 2012 and 2017, it decreased to Rs 4,020 per sq.ft, a drop of 33%. The value then rose sharply to Rs 6,000 per sq.ft in 2023, an increase of 49% from the previous revision.

As of the 2024 revision, the guideline value stands at Rs 6,600 per sq.ft, reflecting a 10% increase from the 2023 figure. Overall, from 2007 to 2024, the guideline value has increased by 323%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value in this area is Rs 6,600 per sq.ft, which is equal to the current figure for Siyali Koil Street.

• Siyali Koil Lane: Rs 6,600 per sq.ft (2024)
• Smith Street: Rs 13,200 per sq.ft (2024)
• Sivaraman Street: Rs 6,600 per sq.ft (2024)
• Somu Street: Rs 7,700 per sq.ft (2024)
• Sivarajapuram (Huts): Rs 2,700 per sq.ft (2024)
• Sivaprakasam Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Siyali Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Siyali Koil Street?

The Sub Registrar Office that covers Siyali Koil Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is an essential factor when registering a property in Triplicane. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives its due revenue from property transactions.

When buying or selling property, it is crucial to be aware of the guideline value as it impacts the overall costs involved in the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Siyali Koil Street?

The current guideline value for Siyali Koil Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 1,560 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, which is an overall increase of 323%.

What is the land classification for Siyali Koil Street?

Siyali Koil Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Siyali Koil Street?

The Sub Registrar Office for Siyali Koil Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Siyali Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at a rate of 7%.