Guideline Value for SIDCO NAGAR 47th STREET

SIDCO NAGAR 47th STREET guideline value

The current guideline value of SIDCO NAGAR 47th 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. The land classification for this area is Residential Class III Type - I.

How the guideline value of SIDCO NAGAR 47th STREET has changed

Over the years, the guideline value of SIDCO NAGAR 47th STREET has experienced several revisions. 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 saw a decrease to Rs 3,350 per sq.ft in 2017. Following this, the value 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. The revisions for 2002 and 2003 have no figures listed for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 10%. Notably, the value surged by 426% from 2007 to 2012, and overall, from 2007 to 2024, the increase is a substantial 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 guideline value for the area is Rs 4,900 per sq.ft, placing SIDCO NAGAR 47th STREET above this median.

• SIDCO NAGAR 46th STREET: Rs 4,900 per sq.ft (2024)
• SIDCO NAGAR 4th MAIN ROAD: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 43th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 4th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 42th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 51st STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 47th STREET

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while 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 and the sale price.

You can calculate your stamp duty and registration fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SIDCO NAGAR 47th STREET?

The SIDCO NAGAR 47th STREET falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor when registering a property in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 47th STREET?

The current guideline value of SIDCO NAGAR 47th 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 from Rs 950 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 479% over these years.

What is the land classification for SIDCO NAGAR 47th STREET?

The land classification for SIDCO NAGAR 47th STREET is Residential Class III Type - I.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where can I find the Sub Registrar Office for SIDCO NAGAR 47th STREET?

The Villivakkam Sub Registrar Office covers SIDCO NAGAR 47th STREET and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.