Guideline Value for SIDCO NAGAR 2ND STREET

Sidco Nagar 2nd Street guideline value

The current guideline value of Sidco Nagar 2nd 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 2nd Street has changed

The guideline value for Sidco Nagar 2nd Street has seen several revisions over the years. In 2012, the guideline value was Rs 5,000 per sq.ft, which decreased to Rs 3,350 per sq.ft in 2017. Following this, the value increased significantly to Rs 5,000 per sq.ft in 2023, and then to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has risen by 10%.

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 in this area is Rs 4,900 per sq.ft, making the 2024 guideline value of Sidco Nagar 2nd Street above the median.

• SIDCO NAGAR 2nd MAIN ROAD: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 30th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 29th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 31st STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 28th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 32nd STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sidco Nagar 2nd 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, totaling 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 2nd Street?

The Sub Registrar Office that covers Sidco Nagar 2nd Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as assessed by the authorities. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Sidco Nagar 2nd Street?

The current guideline value of Sidco Nagar 2nd 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 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for Sidco Nagar 2nd Street?

Sidco Nagar 2nd Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Sidco Nagar 2nd Street?

The Sub Registrar Office for Sidco Nagar 2nd Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Sidco Nagar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.