Guideline Value for SIDCO NAGAR 11th STREET

SIDCO NAGAR 11th STREET guideline value

The current guideline value of SIDCO NAGAR 11th STREET is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of SIDCO NAGAR 11th STREET has changed

The guideline value for SIDCO NAGAR 11th STREET has undergone several revisions over the years. In 2007, the value was Rs 950 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this figure decreased to Rs 3,350 per sq.ft in 2017. The most recent revisions show an increase to Rs 5,000 per sq.ft in 2023, followed by a further increase to Rs 5,500 per sq.ft in 2024.

From 2017 to 2023, the value rose by 49%, while the increase from 2023 to 2024 was 10%. Notably, the overall change from 2007 to 2024 reflects a substantial increase of 479%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of SIDCO NAGAR 11th STREET is above this median.

• SIDCO NAGAR 10th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 12th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 13th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 14th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 15th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 16th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 11th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers SIDCO NAGAR 11th STREET?

The Sub Registrar Office that covers SIDCO NAGAR 11th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value will be compared with the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 11th STREET?

The current guideline value of SIDCO NAGAR 11th STREET is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 950 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 479% over the years.

What is the land classification for SIDCO NAGAR 11th STREET?

SIDCO NAGAR 11th STREET is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for SIDCO NAGAR 11th STREET?

The Villivakkam Sub Registrar Office covers SIDCO NAGAR 11th STREET and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in SIDCO NAGAR 11th STREET?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 55,00,000, the stamp duty would be 7% of that amount.