Guideline Value for SIDCO NAGAR 22nd STREET

SIDCO NAGAR 22nd STREET guideline value

The current guideline value of SIDCO NAGAR 22nd STREET is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, with a land classification of Residential Class III Type - I.

How the guideline value of SIDCO NAGAR 22nd STREET has changed

Over the years, the guideline value of SIDCO NAGAR 22nd STREET has seen significant changes. The 2007 revision recorded a value of Rs 950 per sq.ft, which increased dramatically to Rs 5,000 per sq.ft in 2012, a rise of 426%. However, from 2012 to 2017, the value decreased by 33% to Rs 3,350 per sq.ft. The subsequent revisions saw an increase, with the 2017 figure at Rs 3,350 per sq.ft rising to Rs 5,000 per sq.ft in 2023, marking a 49% increase. The latest revision in 2024 set the value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

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 value is Rs 4,900 per sq.ft, making the guideline value of SIDCO NAGAR 22nd 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 20th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 23rd STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 24th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 25th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 22nd 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. Together, the total cost for these fees would be 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SIDCO NAGAR 22nd STREET?

The SIDCO NAGAR 22nd STREET is covered by 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 more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value as per the government regulations.

When a property is sold, the guideline value helps in assessing the minimum value at which the property can be registered. This ensures that both the buyer and seller are aware of the official value of the property, which is essential for legal and financial purposes.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 22nd STREET?

The current guideline value of SIDCO NAGAR 22nd 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, reflecting an overall increase of 479% over the years.

What is the registration office for SIDCO NAGAR 22nd STREET?

The registration office for SIDCO NAGAR 22nd STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

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 a rate of 7%.

What are the other streets in Villivakkam with the same guideline value?

Other streets in Villivakkam with the same guideline value of Rs 5,500 per sq.ft include SIDCO NAGAR 1st STREET, SIDCO NAGAR 21th STREET, SIDCO NAGAR 20th STREET, SIDCO NAGAR 23rd STREET, SIDCO NAGAR 24th STREET, and SIDCO NAGAR 25th STREET.