Guideline Value for SIDCO NAGAR 40th STREET

SIDCO NAGAR 40th STREET guideline value

The current guideline value of SIDCO NAGAR 40th 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, and is classified as Residential Class III Type - I.

How the guideline value of SIDCO NAGAR 40th STREET has changed

The guideline value for SIDCO NAGAR 40th STREET has seen several revisions over the years. The earliest recorded value was Rs 950 per sq.ft in 2007. This increased significantly to Rs 5,000 per sq.ft in 2012, followed by a decrease to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2012, the guideline value increased by 426%, but then decreased by 33% from 2012 to 2017. The value rose again by 49% from 2017 to 2023, and has increased by 10% 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 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 current guideline value of SIDCO NAGAR 40th STREET above this median.

• Sidco Nagar 3rd Street: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 41th STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar 3rd Main Road: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 42th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 39th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 43th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 40th 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 amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers SIDCO NAGAR 40th STREET?

The SIDCO NAGAR 40th STREET falls under the jurisdiction of 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 details.

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. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of ownership. It is important for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 40th STREET?

The current guideline value of SIDCO NAGAR 40th 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, reflecting an overall increase of 479% over this period.

What is the land classification of SIDCO NAGAR 40th STREET?

SIDCO NAGAR 40th 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 the stamp duty calculated for properties in SIDCO NAGAR 40th STREET?

Stamp duty is calculated based on the higher of the guideline value or the sale price. 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%.