Guideline Value for SIDCO NAGAR 28th STREET

SIDCO NAGAR 28th STREET guideline value

The current guideline value of SIDCO NAGAR 28th 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 28th STREET has changed

The guideline value for SIDCO NAGAR 28th STREET has seen several revisions over the years. The earliest recorded value is from 2007, where it was Rs 950 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, reflecting a change of +426%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a drop of -33%. The value then rose to Rs 5,000 per sq.ft in 2023, and further increased to the current rate of Rs 5,500 per sq.ft in 2024, marking a +10% increase.

From 2017 to 2023, there was a substantial increase of +49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +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, with guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, placing SIDCO NAGAR 28th STREET's 2024 figure above this median.

• SIDCO NAGAR 27th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 29th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 26th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 2nd MAIN ROAD: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 25th STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar 2nd Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 28th 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, bringing the total cost for these 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 more detailed calculations.

Which Sub Registrar Office covers SIDCO NAGAR 28th STREET?

The SIDCO NAGAR 28th STREET falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). For further details, you can find your SRO.

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

The guideline value is a critical factor during property registration in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value influences the stamp duty and registration fees applicable during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees, ensuring that both parties are aware of the financial obligations involved. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 28th STREET?

The current guideline value of SIDCO NAGAR 28th 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 increased 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 are the stamp duty and registration fees for a property in SIDCO NAGAR 28th 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 Sub Registrar Office covers SIDCO NAGAR 28th STREET?

The Villivakkam Sub Registrar Office covers SIDCO NAGAR 28th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of SIDCO NAGAR 28th STREET?

SIDCO NAGAR 28th STREET is classified as Residential Class III Type - I.