Guideline Value for SIDCO NAGAR 15th STREET

SIDCO NAGAR 15th STREET guideline value

The current guideline value of SIDCO NAGAR 15th 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 15th STREET has changed

The guideline value for SIDCO NAGAR 15th STREET has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 950 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a 426% rise. However, the value decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The 2023 revision set the value at Rs 5,000 per sq.ft, and in the latest 2024 revision, it increased to Rs 5,500 per sq.ft, reflecting a 10% rise.

From 2017 to 2023, the increase was substantial at 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a remarkable increase of 479%. It is important to note that 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. The median guideline value in this area is Rs 4,900 per sq.ft, making the current figure for SIDCO NAGAR 15th STREET above the median.

• SIDCO NAGAR 14th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 16th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 13th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 17th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 12th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 18th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 15th 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, totaling 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SIDCO NAGAR 15th STREET?

The Sub Registrar Office that covers SIDCO NAGAR 15th 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 in the registration process for property transactions in Villivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 15th STREET?

The current guideline value of SIDCO NAGAR 15th 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 increased from Rs 950 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 479% across the years.

What is the land classification for SIDCO NAGAR 15th STREET?

SIDCO NAGAR 15th STREET is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for SIDCO NAGAR 15th STREET?

The Sub Registrar Office for SIDCO NAGAR 15th STREET is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in SIDCO NAGAR 15th STREET?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,85,000.