Guideline Value for SIDCO NAGAR 31st STREET

SIDCO NAGAR 31st STREET guideline value

The current guideline value of SIDCO NAGAR 31st 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 31st STREET has changed

The guideline value for SIDCO NAGAR 31st STREET has undergone several revisions over the years. In 2007, the guideline value was Rs 950 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this figure dropped to Rs 3,350 per sq.ft in 2017. The latest revisions show a rise to Rs 5,000 per sq.ft in 2023 and further to Rs 5,500 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the revisions, the changes are notable. The increase from 2017 to 2023 was 49%, while the drop from 2012 to 2017 was 33%. The leap from 2007 to 2012 was a staggering 426%. Overall, from 2007 to 2024, the guideline value has increased by 479%. It is important to note that 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 that have a 2024 guideline value 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 31st STREET above this median with its current value of Rs 5,500 per sq.ft.

• SIDCO NAGAR 30th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 32nd STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar 2nd Street: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 33rd STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 2nd MAIN ROAD: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 34th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 31st 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 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.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SIDCO NAGAR 31st STREET?

The Sub Registrar Office that covers SIDCO NAGAR 31st STREET is 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are necessary for completing the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 31st STREET?

The current guideline value of SIDCO NAGAR 31st 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, reflecting an overall increase of 479% over the years.

What is the median guideline value in Villivakkam?

The median guideline value in Villivakkam is Rs 4,900 per sq.ft, with SIDCO NAGAR 31st STREET's value being above this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is typically charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Sub Registrar Office for SIDCO NAGAR 31st STREET?

The Sub Registrar Office for SIDCO NAGAR 31st STREET is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more information by visiting the appropriate link.