Guideline Value for Siyallan Street

Siyallan Street guideline value

The current guideline value of Siyallan Street in Malligaicherry village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Konnur SRO and is classified as Residential Class I Type - I.

How the guideline value of Siyallan Street has changed

Looking at the historical revisions, the guideline value for Siyallan Street has seen significant changes over the years. In 2002, the value was Rs 415 per sq.ft, which increased to Rs 449 per sq.ft in 2003. The value then rose by 78% to Rs 800 per sq.ft in 2007. Following this, it jumped dramatically by 213% to Rs 2,500 per sq.ft in 2012, but then decreased by 33% to Rs 1,675 per sq.ft in 2017. The value further increased by 49% to Rs 2,500 per sq.ft in 2023, and finally, it has risen by 10% to the current figure of Rs 2,750 per sq.ft in 2024.

There are no figures available for the revisions in 2012 and 2017 for this street in the register. Overall, from 2002 to 2024, the guideline value has increased by 563%.

Guideline values in Malligaicherry

In Malligaicherry, there are 49 streets under the Konnur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. Siyallan Street's current guideline value is above this median.

• Siyallan Second Street: Rs 2,400 per sq.ft (2024)
• Siyallan First Street: Rs 2,400 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Please 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 further calculations.

Which Sub Registrar Office covers Siyallan Street?

The Sub Registrar Office that covers Siyallan 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Malligaicherry. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Siyallan Street?

The current guideline value of Siyallan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 415 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 563%.

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

Other streets in Malligaicherry include Siyallan Second Street, Siyallan First Street, Seeyalam Lane 1 to 4 Streets, Seeyalam II Cross Street, Seeyalam I Cross Street, and Therkku Thirumalai Nagar, with values ranging from Rs 2,400 to Rs 3,800 per sq.ft for 2024.

What are the stamp duty and registration fees for a property in Siyallan Street?

The stamp duty for a property valued at Rs 27,50,000 would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Konnur Sub Registrar Office located?

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