Guideline Value for SIDCO NAGAR 38th STREET

SIDCO NAGAR 38th STREET guideline value

The current guideline value of SIDCO NAGAR 38th 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 38th STREET has changed

The guideline value for SIDCO NAGAR 38th STREET has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 950 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a change of +426%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, representing a decline of -33%. The most recent figures show an increase to Rs 5,000 per sq.ft in 2023, and then to Rs 5,500 per sq.ft in 2024, which is a rise of +10% from the previous year.

There are no registered figures for SIDCO NAGAR 38th STREET in the years 2002 and 2003. 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, with a median value of Rs 4,900 per sq.ft. The guideline value for SIDCO NAGAR 38th STREET is above this median.

• SIDCO NAGAR 37th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 39th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 36th STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar 3rd Main Road: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 35th STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar 3rd Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 38th 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 be 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 calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SIDCO NAGAR 38th STREET?

The Sub Registrar Office that covers SIDCO NAGAR 38th 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 of property transactions in Villivakkam. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

When buying or selling property in Villivakkam, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations associated with the transaction. Buyers should consider this value when negotiating sale prices to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 38th STREET?

The current guideline value of SIDCO NAGAR 38th STREET is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

In recent years, the guideline value has changed from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024, which is an increase of +10%. From 2017 to 2023, there was a significant increase of +49%.

What is the land classification of SIDCO NAGAR 38th STREET?

SIDCO NAGAR 38th STREET is classified as Residential Class III Type - I, indicating its designation for residential use within the area.

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 the stamp duty calculated for properties in SIDCO NAGAR 38th STREET?

Stamp duty for properties in SIDCO NAGAR 38th STREET is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000.