Guideline Value for SIDCO NAGAR 17th STREET

SIDCO NAGAR 17th STREET guideline value

The current guideline value of SIDCO NAGAR 17th 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 17th STREET has changed

The guideline value for SIDCO NAGAR 17th STREET has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 950 per sq.ft. This value increased significantly to Rs 5,000 per sq.ft in 2012, marking a substantial rise of 426%. However, in 2017, the value decreased to Rs 3,350 per sq.ft, which was a decline of 33%. The guideline value then saw a notable increase to Rs 5,000 per sq.ft in 2023, followed by a further rise to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 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. The median value for these streets is Rs 4,900 per sq.ft, placing SIDCO NAGAR 17th STREET's 2024 figure above the median.

• SIDCO NAGAR 16th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 18th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 15th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 19th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 14th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 1st MAIN ROAD: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 17th 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 amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of 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 17th STREET?

The Sub Registrar Office covering SIDCO NAGAR 17th 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 additional information.

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

The guideline value is a crucial factor when registering property transactions in Villivakkam. It serves as a benchmark for determining the value of the property for taxation purposes, ensuring that the transaction is recorded at an appropriate value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transaction. It ensures that both parties are aware of the financial obligations involved in the sale.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 17th STREET?

The current guideline value of SIDCO NAGAR 17th 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 17th STREET?

SIDCO NAGAR 17th STREET is classified as Residential Class III Type - I.

Where is the Villivakkam Sub Registrar Office located?

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

How is stamp duty calculated for properties in SIDCO NAGAR 17th STREET?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 5,500 per sq.ft, the stamp duty would be Rs 3,85,000.