Guideline Value for Siyallan First Street

Siyallan First Street guideline value

The current guideline value of Siyallan First Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Malligaicherry village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Siyallan First Street has changed

The guideline value for Siyallan First Street has undergone several revisions over the years. In 2002, the value was Rs 415 per sq.ft, which increased to Rs 449 per sq.ft in 2003, marking an 8% rise. The value saw a significant jump to Rs 700 per sq.ft in 2007, reflecting a 56% increase. By 2012, the value was Rs 2,250 per sq.ft, which represented a 221% increase from the previous revision. However, it then decreased to Rs 1,507 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 2,250 per sq.ft, which was a notable increase of 49%. The most recent revision in 2024 set the value at Rs 2,400 per sq.ft, marking a 7% increase from the previous year. The register has no figures for revisions in years not listed, ensuring clarity in the historical changes.

Guideline values in Malligaicherry

In Malligaicherry, there are 49 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, which is the same as the guideline value for Siyallan First Street.

• Siyallan Second Street: Rs 2,400 per sq.ft (2024)
• Siyallan Street: Rs 2,750 per sq.ft (2024)
• Seeyalam Lane 1 to 4 Streets: Rs 2,400 per sq.ft (2024)
• Seeyalam II Cross Street: Rs 2,400 per sq.ft (2024)
• Seeyalam I Cross Street: Rs 2,400 per sq.ft (2024)
• Therkku Thirumalai Nagar: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Siyallan First Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty, charged at 7%, would be Rs 1,68,000, while the registration fee at 2% would be Rs 48,000. Together, the total cost for these fees would be Rs 2,16,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Siyallan First Street?

The Sub Registrar Office that covers Siyallan First Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Malligaicherry. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the transaction is recorded accurately and in compliance with local regulations.

When a property is sold, the guideline value helps in establishing the minimum value for tax purposes. Buyers and sellers should be aware that the guideline value can influence the overall cost of the transaction, making it essential to consider during the buying or selling process.

Frequently asked questions

What is the current guideline value for Siyallan First Street?

The current guideline value for Siyallan First Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 415 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 478% over the years.

What is the stamp duty rate for property in Siyallan First Street?

The stamp duty rate for property in Siyallan First Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Siyallan First Street?

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

What are the other streets in Malligaicherry with similar guideline values?

Other streets in Malligaicherry with similar guideline values include Siyallan Second Street, Seeyalam Lane 1 to 4 Streets, and Seeyalam II Cross Street, all currently valued at Rs 2,400 per sq.ft in 2024.