Guideline Value for SIDCO NAGAR 32nd STREET

SIDCO NAGAR 32nd STREET guideline value

The current guideline value of SIDCO NAGAR 32nd STREET is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village under the Villivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of SIDCO NAGAR 32nd STREET has changed

The guideline value for SIDCO NAGAR 32nd STREET has seen 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, marking a 426% rise. 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, reflecting a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 479%.

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 32nd STREET's 2024 figure above this median.

• SIDCO NAGAR 31st STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 33rd STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 30th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 34th STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar 2nd Street: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 35th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 32nd 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, while the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers SIDCO NAGAR 32nd STREET?

The Sub Registrar Office that covers SIDCO NAGAR 32nd 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 stamp duty and registration fees that need to be paid to the government.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 32nd STREET?

The current guideline value of SIDCO NAGAR 32nd 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 land classification of SIDCO NAGAR 32nd STREET?

SIDCO NAGAR 32nd STREET is classified as Residential Class III Type - I.

Where can I find the Villivakkam Sub Registrar Office?

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

How is stamp duty calculated for property in SIDCO NAGAR 32nd STREET?

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