Guideline Value for SIDCO NAGAR 16th STREET

SIDCO NAGAR 16th STREET guideline value

The current guideline value of SIDCO NAGAR 16th STREET is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village under the Villivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of SIDCO NAGAR 16th STREET has changed

The guideline value for SIDCO NAGAR 16th STREET has seen several revisions over the years. The 2007 revision set the value at Rs 950 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this value dropped to Rs 3,350 per sq.ft in 2017 before rising to Rs 5,000 per sq.ft in 2023. The most recent revision in 2024 has increased the guideline value to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Between the years, there have been notable changes. From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The jump from 2007 to 2012 was a remarkable 426%. Overall, from 2007 to 2024, the guideline value has increased by 479%. The register has no figure 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 the village is Rs 4,900 per sq.ft, placing SIDCO NAGAR 16th STREET's 2024 figure above this median.

• SIDCO NAGAR 15th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 17th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 14th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 18th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 13th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 19th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 16th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SIDCO NAGAR 16th STREET?

The Sub Registrar Office covering SIDCO NAGAR 16th 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 information.

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

The guideline value is an important factor in the registration process when buying or selling property in Villivakkam. It determines the minimum value at which the property can be registered, affecting the stamp duty and registration fees payable.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable duties. Buyers and sellers must ensure that the sale price is at least equal to the guideline value to comply with registration requirements.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 16th STREET?

The current guideline value of SIDCO NAGAR 16th 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, marking an overall increase of 479% over the years.

What is the land classification for SIDCO NAGAR 16th STREET?

SIDCO NAGAR 16th STREET is classified as Residential Class III Type - I.

Where is the Sub Registrar Office for SIDCO NAGAR 16th STREET located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in SIDCO NAGAR 16th 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 Rs 3,85,000 at a rate of 7%.