Guideline Value for SIDCO NAGAR 33rd STREET

SIDCO NAGAR 33rd STREET guideline value

The current guideline value of SIDCO NAGAR 33rd STREET is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of SIDCO NAGAR 33rd STREET has changed

The guideline value for SIDCO NAGAR 33rd STREET has seen several revisions over the years. In the 2007 revision, the value was Rs 950 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this figure decreased to Rs 3,350 per sq.ft in the 2017 revision. The 2023 revision set the value at Rs 5,000 per sq.ft, and the most recent 2024 revision raised it to Rs 5,500 per sq.ft.

Between these revisions, the changes were notable. From 2007 to 2012, there was an increase of 426%. However, from 2012 to 2017, the value decreased by 33%. The value then rose by 49% from 2017 to 2023. Finally, the jump from 2023 to 2024 was 10%. 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 that carry a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, making the guideline value for SIDCO NAGAR 33rd STREET above this median.

• SIDCO NAGAR 32nd STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 34th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 31st STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 35th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 30th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 36th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 33rd STREET

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the 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, resulting in a total of 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SIDCO NAGAR 33rd STREET?

The Sub Registrar Office that covers SIDCO NAGAR 33rd STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Villivakkam, the guideline value is a critical factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that these costs are calculated based on the official rates set by the government.

The guideline value helps in establishing a fair transaction price for properties in the area. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 33rd STREET?

The current guideline value of SIDCO NAGAR 33rd 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 33rd STREET's value being above this median.

What are the stamp duty and registration fees for properties in this area?

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 office handles the registration for SIDCO NAGAR 33rd STREET?

The registration for SIDCO NAGAR 33rd STREET is handled by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.