Guideline Value for SIDCO NAGAR 29th STREET

SIDCO NAGAR 29th STREET guideline value

The current guideline value for SIDCO NAGAR 29th 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 29th STREET has changed

Over the years, the guideline value for SIDCO NAGAR 29th STREET has seen significant changes. In the 2007 revision, the value was set at Rs 950 per sq.ft, which increased dramatically to Rs 5,000 per sq.ft in 2012, marking a rise of 426%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. The following revisions saw a substantial increase, with the 2023 figure at Rs 5,000 per sq.ft, and the latest 2024 revision reflecting a value of Rs 5,500 per sq.ft, representing a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%, and overall, from 2007 to 2024, the guideline value has risen by 479%. It is important to note that there are no figures available 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 for these streets is Rs 4,900 per sq.ft, placing SIDCO NAGAR 29th STREET above this median.

• SIDCO NAGAR 28th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 2nd MAIN ROAD: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 27th STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar 2nd Street: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 26th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 30th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 29th 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 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SIDCO NAGAR 29th STREET?

The SIDCO NAGAR 29th STREET falls under the jurisdiction of 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 crucial factor during the registration of property transactions in Villivakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps establish a fair basis for the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value for SIDCO NAGAR 29th STREET?

The current guideline value for SIDCO NAGAR 29th 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, starting 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 median guideline value in Villivakkam?

The median guideline value for the 372 streets in Villivakkam is Rs 4,900 per sq.ft, which means SIDCO NAGAR 29th STREET's value is above this median.

What are the stamp duty and registration fees for a property in SIDCO NAGAR 29th STREET?

For a 1,000 sq.ft plot, the total guideline value would be Rs 55,00,000, with stamp duty at Rs 3,85,000 and registration fees at Rs 1,10,000, totaling Rs 4,95,000.

Which office handles the registration for SIDCO NAGAR 29th STREET?

The Villivakkam Sub Registrar Office handles the registration for SIDCO NAGAR 29th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.