Guideline Value for SIDCO NAGAR 3RD MAIN ROAD

Sidco Nagar 3rd Main Road guideline value

The current guideline value of Sidco Nagar 3rd Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road 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 3rd Main Road has changed

Over the years, the guideline value for Sidco Nagar 3rd Main Road has seen several revisions. The 2012 revision set the value at Rs 5,000 per sq.ft, which was then decreased to Rs 3,350 per sq.ft in 2017. Following this, the value increased significantly to Rs 5,000 per sq.ft in 2023, and further rose to Rs 5,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, which means that Sidco Nagar 3rd Main Road's 2024 figure is above this median.

• SIDCO NAGAR 39th STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar 3rd Street: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 38th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 40th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 37th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 41th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sidco Nagar 3rd Main Road

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, making the total fees Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sidco Nagar 3rd Main Road?

The Sub Registrar Office that covers Sidco Nagar 3rd Main Road 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 information.

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 benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value ensures that the transaction is documented at a fair price, reflecting the current market conditions. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Sidco Nagar 3rd Main Road?

The current guideline value of Sidco Nagar 3rd Main Road 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 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for Sidco Nagar 3rd Main Road?

Sidco Nagar 3rd Main Road is classified as Residential Class III Type - I.

Which Sub Registrar Office covers Sidco Nagar 3rd Main Road?

The Villivakkam Sub Registrar Office covers Sidco Nagar 3rd Main Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Sidco Nagar 3rd Main Road?

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