Guideline Value for SIDCO NAGAR 24th STREET

SIDCO NAGAR 24th STREET guideline value

The current guideline value of SIDCO NAGAR 24th 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 24th STREET has changed

The guideline value for SIDCO NAGAR 24th STREET has seen several revisions over the years. In 2007, the guideline value was Rs 950 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 426%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, reflecting a decline of 33%. The value then increased to Rs 5,000 per sq.ft in 2023, and further to Rs 5,500 per sq.ft in 2024, showing an increase of 10% between these two revisions. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 479%. The revision history highlights the fluctuations in property values over the years, with notable increases and a brief decline during the 2012 to 2017 period.

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 for these streets is Rs 4,900 per sq.ft, placing SIDCO NAGAR 24th STREET above this median.

• SIDCO NAGAR 21th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 22nd 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)
• SIDCO NAGAR 26th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 27th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 24th 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 the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers SIDCO NAGAR 24th STREET?

The Sub Registrar Office that covers SIDCO NAGAR 24th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 24th STREET?

The current guideline value of SIDCO NAGAR 24th 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, marking an overall increase of 479% over this period.

What is the land classification for SIDCO NAGAR 24th STREET?

SIDCO NAGAR 24th STREET is classified as Residential Class III Type - I, indicating its suitability for residential development.

How is the stamp duty calculated for properties in SIDCO NAGAR 24th STREET?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,85,000.

Where is the Sub Registrar Office for SIDCO NAGAR 24th STREET located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.