Guideline Value for SIDCO NAGAR 20th STREET

SIDCO NAGAR 20th STREET guideline value

The current guideline value of SIDCO NAGAR 20th 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 20th STREET has changed

The guideline value for SIDCO NAGAR 20th STREET has undergone several revisions over the years. In the 2007 revision, the value was Rs 950 per sq.ft, which saw a significant increase to Rs 5,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,350 per sq.ft in 2017. The 2023 revision set the value at Rs 5,000 per sq.ft, and the latest revision in 2024 raised it to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Notably, the overall change from the 2007 revision to the 2024 revision reflects a remarkable increase of 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 guideline value in this area is Rs 4,900 per sq.ft, placing SIDCO NAGAR 20th STREET above this median.

• SIDCO NAGAR 1st STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 21th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 1st MAIN ROAD: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 22nd STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 19th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 23rd STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 20th STREET

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the 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, 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 or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SIDCO NAGAR 20th STREET?

The Sub Registrar Office that covers SIDCO NAGAR 20th 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 plays a crucial role in the registration process of property transactions in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the transaction legally.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 20th STREET?

The current guideline value of SIDCO NAGAR 20th 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 seen significant changes, from Rs 950 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024. Notably, there was a 10% increase from 2023 to 2024.

What is the median guideline value in Villivakkam?

The median guideline value in Villivakkam is Rs 4,900 per sq.ft. SIDCO NAGAR 20th STREET's current value is above this median.

What are the stamp duty and registration fees for properties in SIDCO NAGAR 20th 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 registrations for SIDCO NAGAR 20th STREET?

The Villivakkam Sub Registrar Office handles registrations for SIDCO NAGAR 20th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.