Guideline Value for SIDCO INDUSTRIAL ESTATE

Sidco Industrial Estate guideline value

The current guideline value of Sidco Industrial Estate is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of Sidco Industrial Estate has changed

The guideline value has undergone several revisions over the years. Starting from Rs 340 per sq.ft in 2002, it increased significantly to Rs 875 per sq.ft in 2007, marking a rise of 157%. The value remained unchanged at Rs 3,000 per sq.ft from 2012 until 2023. The most recent revision in 2024 saw a further increase to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

In summary, the guideline value has seen substantial growth from 2002 to 2024, with an overall increase of 871%. The revisions for 2017 and 2003 do not have figures available for this street in the register.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with 2024 guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value is Rs 2,500 per sq.ft, placing Sidco Industrial Estate's 2024 figure above this median.

• Sivagami Nagar: Rs 2,700 per sq.ft (2024)
• Sivalingapuram: Rs 2,100 per sq.ft (2024)
• Sivalingapuram Vivenkananda St: Rs 2,100 per sq.ft (2024)
• Sivananda Colony: Rs 2,500 per sq.ft (2024)
• Shanthi Nagar: Rs 3,800 per sq.ft (2024)
• Sivanarayan Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sidco Industrial Estate

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sidco Industrial Estate?

The Sub Registrar Office that covers Sidco Industrial Estate is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Korattur. It is used to determine the stamp duty and registration fees, ensuring that both the buyer and seller are aware of the official valuation of the property.

When buying or selling property, it is essential to refer to the latest guideline value to avoid discrepancies during the registration process. This value is a reference point for both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Sidco Industrial Estate?

The current guideline value of Sidco Industrial Estate is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 340 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 871% over the years.

What are the stamp duty rates for properties in Sidco Industrial Estate?

The stamp duty for properties in Sidco Industrial Estate is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where is the Sub Registrar Office for Sidco Industrial Estate located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. This office handles registrations for properties in Sidco Industrial Estate.

Are there other streets in Korattur with different guideline values?

Yes, there are several other streets in Korattur with varying guideline values. For instance, Sivagami Nagar has a guideline value of Rs 2,700 per sq.ft, while Shanthi Nagar is valued at Rs 3,800 per sq.ft.