Guideline Value for SIDCO NAGAR 14th STREET

SIDCO NAGAR 14th STREET guideline value

The current guideline value of SIDCO NAGAR 14th 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 14th STREET has changed

Over the years, the guideline value of SIDCO NAGAR 14th STREET has seen several revisions. The earliest recorded revision in 2007 set the value at Rs 950 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this figure saw a decrease of 33% to Rs 3,350 per sq.ft in 2017. The value then rose sharply to Rs 5,000 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 has established the guideline value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for SIDCO NAGAR 14th STREET in the years 2002 and 2003. 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 in this area is Rs 4,900 per sq.ft, positioning SIDCO NAGAR 14th STREET above this median.

• SIDCO NAGAR 13th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 15th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 12th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 16th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 11th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 17th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 14th 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, calculated at 7%, would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that 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 14th STREET?

The Sub Registrar Office that covers SIDCO NAGAR 14th 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 a crucial factor during the registration of property transactions in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is important to consider this value as it influences the overall cost of the transaction, including the applicable taxes and fees.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 14th STREET?

The current guideline value of SIDCO NAGAR 14th STREET is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 950 per sq.ft to Rs 5,500 per sq.ft in 2024, marking an overall increase of 479%.

What is the land classification for SIDCO NAGAR 14th STREET?

SIDCO NAGAR 14th STREET is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for SIDCO NAGAR 14th STREET?

The Sub Registrar Office for SIDCO NAGAR 14th STREET is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more details by visiting the provided link.