Guideline Value for Siyallam Street, Near Narayana Mastry Street

Siyallam Street, Near Narayana Mastry Street guideline value

The current guideline value of Siyallam Street, Near Narayana Mastry Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Konnur village and falls under the Konnur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Siyallam Street, Near Narayana Mastry Street has changed

The guideline value for Siyallam Street has undergone several revisions over the years. In 2002, the guideline value was Rs 437 per sq.ft. This figure increased to Rs 474 per sq.ft in 2003, marking an increase of 8%. The value saw a significant rise to Rs 800 per sq.ft in 2007, which was a 69% increase. Following this, the value jumped to Rs 3,500 per sq.ft in 2012, representing a considerable increase of 338%. However, the value decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The guideline value then rose to Rs 3,500 per sq.ft in 2023, and most recently, it increased to Rs 3,800 per sq.ft in 2024, a change of 9%.

Overall, from 2002 to 2024, the guideline value has increased by 770%. There are no figures available for the revisions in years not mentioned in the register for this street.

Guideline values in Konnur

Konnur village has 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, which is equal to the current guideline value of Siyallam Street.

• Sivan Street: Rs 3,800 per sq.ft (2024)
• Sidco Veyabara Pakudhi Ist, IInd, IIIrd, IVth Main Road: Rs 7,100 per sq.ft (2024)
• Sidco Nagar Kudiyeruppu Pakudhi: Rs 6,000 per sq.ft (2024)
• Sasthiri Nagar 1 to 3 Streets and Street: Rs 5,500 per sq.ft (2024)
• Sannathi Street (Perumal Kovil Sannathi Street): Rs 5,500 per sq.ft (2024)
• Samiyar Thottam: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Siyallam Street, Near Narayana Mastry Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Siyallam Street, Near Narayana Mastry Street?

The Sub Registrar Office that covers Siyallam Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a key factor in the registration process for property transactions in Konnur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure they comply with local regulations.

When a property is registered, the guideline value is compared to the sale price. The higher of the two amounts is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Siyallam Street?

The current guideline value of Siyallam Street, Near Narayana Mastry Street is Rs 3,800 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 437 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 770% over this period.

What is the land classification for Siyallam Street?

The land classification for Siyallam Street, Near Narayana Mastry Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Siyallam Street?

The Sub Registrar Office for Siyallam Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Konnur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For Siyallam Street, the current guideline value is Rs 3,800 per sq.ft, which is used to determine the applicable duties and fees during the registration process.