Guideline Value for SIDCO NAGAR 3RD STREET

Sidco Nagar 3rd Street guideline value

The current guideline value of Sidco Nagar 3rd 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 3rd Street has changed

The guideline value for Sidco Nagar 3rd Street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 5,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased significantly to Rs 3,350 per sq.ft. In 2023, the guideline value increased to Rs 5,000 per sq.ft, followed by another increase to Rs 5,500 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 to 2024 revisions, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register 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, placing the guideline value of Sidco Nagar 3rd Street above this median.

• Sidco Nagar 3rd Main Road: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 40th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 39th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 41th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 38th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 42th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sidco Nagar 3rd 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 fees together to 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.

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

Which Sub Registrar Office covers Sidco Nagar 3rd Street?

The Sub Registrar Office that covers Sidco Nagar 3rd Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 property transactions in Villivakkam, as it determines the minimum value at which properties can be registered. This value is used to calculate stamp duty and registration fees, ensuring that both buyers and sellers comply with legal requirements during the transaction process.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Sidco Nagar 3rd Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then back to Rs 5,000 in 2023, and finally reaching Rs 5,500 in 2024.

What is the land classification for Sidco Nagar 3rd Street?

Sidco Nagar 3rd 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 properties in Sidco Nagar 3rd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 3,85,000 based on the guideline value.