Guideline Value for SIDCO NAGAR 53(PART) STREET

Sidco Nagar 53(Part) Street guideline value

The current guideline value for Sidco Nagar 53(Part) 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 53(Part) Street has changed

Over the years, the guideline value for Sidco Nagar 53(Part) Street has seen several revisions. The 2007 revision recorded a value of Rs 950 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in the 2012 revision. However, this figure then decreased to Rs 3,350 per sq.ft in the 2017 revision. Following that, the value rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft from the 2024 revision. The changes between these revisions include a remarkable increase of 426% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and an increase of 49% from 2017 to 2023, culminating in an overall increase of 479% from 2007 to 2024.

Notably, there are no figures available for the years 2002 and 2003 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 guideline value for the village is Rs 4,900 per sq.ft, placing Sidco Nagar 53(Part) Street's current value above this median.

• SIDCO NAGAR 51st STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 5th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 4th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 6th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 4th MAIN ROAD: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 7th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sidco Nagar 53(Part) 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 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sidco Nagar 53(Part) Street?

The Sub Registrar Office that covers Sidco Nagar 53(Part) 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 additional assistance.

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

When buying or selling property in Villivakkam, the guideline value is a crucial factor used during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall cost of property transactions in the area. This value helps maintain transparency and consistency in property dealings, ensuring that all parties are aware of the financial implications involved.

Frequently asked questions

What is the current guideline value of Sidco Nagar 53(Part) Street?

The current guideline value of Sidco Nagar 53(Part) 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, starting from Rs 950 per sq.ft in 2007, rising to Rs 5,500 per sq.ft in 2024. There have been fluctuations, including a decrease in value from 2012 to 2017.

What is the land classification of Sidco Nagar 53(Part) Street?

Sidco Nagar 53(Part) Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sidco Nagar 53(Part) Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur specific fees based on the established rates.