Guideline Value for SIDCO NAGAR 18th STREET

SIDCO NAGAR 18th STREET guideline value

The current guideline value of SIDCO NAGAR 18th STREET is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of SIDCO NAGAR 18th STREET has changed

The guideline value for SIDCO NAGAR 18th STREET has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 950 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a substantial rise of 426%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, reflecting a drop of 33%. By 2023, the guideline value rose again to Rs 5,000 per sq.ft, and in the latest revision for 2024, it stands at Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 479%, showcasing significant changes over the years.

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 area is Rs 4,900 per sq.ft, placing SIDCO NAGAR 18th STREET above this median.

• SIDCO NAGAR 17th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 19th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 16th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 1st MAIN ROAD: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 15th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 1st STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 18th 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, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers SIDCO NAGAR 18th STREET?

The Sub Registrar Office that covers SIDCO NAGAR 18th 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 a crucial factor when buying or selling property in Villivakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that transactions are recorded accurately in the official register.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 18th STREET?

The current guideline value of SIDCO NAGAR 18th 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 significantly 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 18th STREET?

The land classification for SIDCO NAGAR 18th STREET is Residential Class III Type - I.

What are the stamp duty and registration fees for a property in SIDCO NAGAR 18th STREET?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles the registration for SIDCO NAGAR 18th STREET?

The Villivakkam Sub Registrar Office handles the registration for SIDCO NAGAR 18th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.