Guideline Value for SIDCO NAGAR 23rd STREET

SIDCO NAGAR 23rd STREET guideline value

The current guideline value of SIDCO NAGAR 23rd 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 23rd STREET has changed

The guideline value for SIDCO NAGAR 23rd STREET has seen several revisions over the years. The 2007 revision set the value at Rs 950 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a substantial rise of 426%. However, the value then decreased to Rs 3,350 per sq.ft in the 2017 revision, a drop of 33%. Following this, the 2023 revision raised the value to Rs 5,000 per sq.ft, and the most recent 2024 revision further increased it to Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 479%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with guideline values for 2024 ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value in the village is Rs 4,900 per sq.ft, placing SIDCO NAGAR 23rd STREET above this median with its 2024 figure of Rs 5,500 per sq.ft.

• SIDCO NAGAR 22nd STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 24th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 21th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 25th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 20th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 26th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 23rd STREET

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the 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, totaling Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SIDCO NAGAR 23rd STREET?

The SIDCO NAGAR 23rd 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 information.

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

The guideline value is a critical factor when registering property transactions in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated fairly based on the property’s value.

When buying or selling property, the guideline value helps both buyers and sellers understand the minimum value for which the property can be registered. This ensures transparency and compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 23rd STREET?

The current guideline value of SIDCO NAGAR 23rd 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, showing an overall increase of 479% over the years.

What is the land classification for SIDCO NAGAR 23rd STREET?

SIDCO NAGAR 23rd STREET is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for properties in this area?

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 23rd STREET?

The Villivakkam Sub Registrar Office handles the registration for SIDCO NAGAR 23rd STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.