Guideline Value for SIDCO NAGAR 12th STREET

SIDCO NAGAR 12th STREET guideline value

The current guideline value for SIDCO NAGAR 12th 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 12th STREET has changed

The guideline value for SIDCO NAGAR 12th STREET has undergone several revisions over the years. In 2007, the guideline value was Rs 950 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. The value rose again to Rs 5,000 per sq.ft in 2023, and finally reached Rs 5,500 per sq.ft in the 2024 revision. The register has no figure for this street in 2002 and 2003.

Between the revisions, the changes were as follows: from 2007 to 2012, there was a remarkable increase of 426%. The value then decreased by 33% from 2012 to 2017. Following this, there was a significant increase of 49% from 2017 to 2023, and a further increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 479%.

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. The median guideline value for the village is Rs 4,900 per sq.ft, placing SIDCO NAGAR 12th STREET above this median.

• SIDCO NAGAR 11th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 13th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 10th 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 12th STREET

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, totaling Rs 4,95,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SIDCO NAGAR 12th STREET?

The Sub Registrar Office that covers SIDCO NAGAR 12th STREET 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 more information.

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

The guideline value is an important factor when registering property transactions in Villivakkam. It is used to determine the stamp duty and registration fees that are payable during the sale or purchase of real estate. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for SIDCO NAGAR 12th STREET?

The current guideline value for SIDCO NAGAR 12th 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 this period.

What is the land classification for SIDCO NAGAR 12th STREET?

SIDCO NAGAR 12th 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 12th STREET?

The Villivakkam Sub Registrar Office covers SIDCO NAGAR 12th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at a rate of 7%.