Guideline Value for SIDCO NAGAR 39th STREET

SIDCO NAGAR 39th STREET guideline value

The current guideline value of SIDCO NAGAR 39th 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 39th STREET has changed

The guideline value for SIDCO NAGAR 39th 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 then decreased to Rs 3,350 per sq.ft in 2017. The subsequent revision in 2023 saw an increase to Rs 5,000 per sq.ft, followed by the current rate of Rs 5,500 per sq.ft effective from July 2024. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, the changes were substantial. From 2007 to 2012, the value rose by 426%, but then dropped by 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. 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 guideline value for 2024, 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, placing SIDCO NAGAR 39th STREET above that median with its current value of Rs 5,500 per sq.ft.

• SIDCO NAGAR 38th STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar 3rd Main Road: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 37th STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar 3rd Street: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 36th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 40th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 39th 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 and the sale price.

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

Which Sub Registrar Office covers SIDCO NAGAR 39th STREET?

The Sub Registrar Office covering SIDCO NAGAR 39th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To locate your SRO, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Villivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property transaction occurs, the registration office uses the guideline value to determine the applicable fees, which are mandatory for the legal transfer of property ownership. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 39th STREET?

The current guideline value of SIDCO NAGAR 39th 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 significantly from Rs 950 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for SIDCO NAGAR 39th STREET?

The registration office for SIDCO NAGAR 39th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in SIDCO NAGAR 39th STREET?

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

What is the land classification of SIDCO NAGAR 39th STREET?

SIDCO NAGAR 39th STREET is classified as Residential Class III Type - I, which influences its guideline value and potential uses.