Guideline Value for SIDCO NAGAR 5th STREET

SIDCO NAGAR 5th STREET guideline value

The current guideline value of SIDCO NAGAR 5th 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 5th STREET has changed

The guideline value for SIDCO NAGAR 5th STREET has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 950 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 426%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, showing a decline of 33%. In 2023, the value rose again to Rs 5,000 per sq.ft, and the latest revision in 2024 set the value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 479%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for SIDCO NAGAR 5th STREET is above this median.

• Sidco Nagar 53(Part) Street: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 6th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 51st STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 7th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 4th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 8th STREET: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 5th 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, leading to a total of 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SIDCO NAGAR 5th STREET?

The Sub Registrar Office that covers SIDCO NAGAR 5th 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 further assistance.

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

The guideline value is a critical factor when registering property in Villivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction reflects the actual market conditions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 5th STREET?

The current guideline value of SIDCO NAGAR 5th 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 increased 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 5th STREET?

SIDCO NAGAR 5th STREET is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for SIDCO NAGAR 5th STREET?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in SIDCO NAGAR 5th STREET?

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