Guideline Value for SIDCO NAGAR 51st STREET

SIDCO NAGAR 51st STREET guideline value

The current guideline value of SIDCO NAGAR 51st 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 51st STREET has changed

The guideline value for SIDCO NAGAR 51st STREET has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 950 per sq.ft. This value saw a significant increase to Rs 5,000 per sq.ft in 2012, marking an increase of 426%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a reduction of 33%. The value then increased to Rs 5,000 per sq.ft in 2023, which was a 49% rise from the previous figure. The latest revision in 2024 set the value at Rs 5,500 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that the register has no figures for SIDCO NAGAR 51st STREET for the years 2002 and 2003. 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 guideline value in this area is Rs 4,900 per sq.ft, which means that SIDCO NAGAR 51st STREET's 2024 figure is above this median.

• SIDCO NAGAR 4th STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar 53(Part) Street: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 4th MAIN ROAD: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 5th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 47th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 6th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 51st 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 to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SIDCO NAGAR 51st STREET?

The SIDCO NAGAR 51st STREET falls under 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 plays a crucial role in the registration of property transactions in Villivakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the fees are calculated based on a standardized value set by the registration department.

It is important for buyers and sellers to be aware of the current guideline value as it directly affects the overall cost of the transaction. Having accurate information on the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 51st STREET?

The current guideline value of SIDCO NAGAR 51st 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, showing an overall increase of 479% over the years.

What is the land classification for SIDCO NAGAR 51st STREET?

The land classification for SIDCO NAGAR 51st STREET is 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 this area?

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 7%.