Guideline Value for SIDCO NAGAR 1st STREET

SIDCO NAGAR 1st STREET guideline value

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

How the guideline value of SIDCO NAGAR 1st STREET has changed

The guideline value for SIDCO NAGAR 1st STREET has undergone several revisions since 2012. In 2012, the guideline value was Rs 5,000 per sq.ft. This figure decreased to Rs 3,350 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it to Rs 5,000 per sq.ft. The most recent revision in 2024 set 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 figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 these streets is Rs 4,900 per sq.ft, placing SIDCO NAGAR 1st STREET above this median.

• SIDCO NAGAR 1st MAIN ROAD: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 20th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 19th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 21th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 18th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 22nd STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 1st 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 is charged at 7%, resulting in Rs 3,85,000, while the registration fee is 2%, totaling Rs 1,10,000. The combined total for these fees is 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 1st STREET?

The SIDCO NAGAR 1st STREET falls under the jurisdiction of the Villivakkam Sub Registrar Office. The office is 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 property transactions in Villivakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that are payable during the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures that the transaction is compliant with local regulations and helps prevent undervaluation of properties. Accurate knowledge of the guideline value can aid in a smoother transaction process.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 1st STREET?

The current guideline value of SIDCO NAGAR 1st 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 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for SIDCO NAGAR 1st STREET?

The land classification for SIDCO NAGAR 1st STREET is Residential Class III Type - I.

Where can I find the Sub Registrar Office for SIDCO NAGAR 1st STREET?

The Villivakkam Sub Registrar Office covers SIDCO NAGAR 1st STREET and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in SIDCO NAGAR 1st STREET?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at the rate of 7%.