Guideline Value for SIDCO NAGAR 7th STREET

SIDCO NAGAR 7th STREET guideline value

The current guideline value for SIDCO NAGAR 7th 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 7th STREET has changed

The guideline value for SIDCO NAGAR 7th STREET has undergone several revisions over the years. The earliest recorded value was Rs 950 per sq.ft in 2007. This figure saw a significant increase to Rs 5,000 per sq.ft in 2012, marking a rise of 426%. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, and most recently to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for the years 2002 and 2003 for this street. 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 with 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, making the 2024 figure for SIDCO NAGAR 7th STREET above this median.

• SIDCO NAGAR 6th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 8th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 5th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 9th STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar 53(Part) Street: Rs 5,500 per sq.ft (2024)
• Sidco Nagar (Commercial Side-Main Road): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 7th 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 be Rs 3,85,000, while the registration fee at 2% would amount to Rs 1,10,000. Together, the total charges would be 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 7th STREET?

The Sub Registrar Office that covers SIDCO NAGAR 7th STREET is located at Villivakkam Sub Registrar Office, Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near 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 plays a crucial role during property transactions in Villivakkam. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. This ensures that the government receives appropriate revenue based on the established values of properties in the area.

When buying or selling property, it is essential to consider the guideline value, as it can impact the overall costs associated with the transaction. Buyers should ensure that they are aware of the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value for SIDCO NAGAR 7th STREET?

The current guideline value for SIDCO NAGAR 7th 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 the years.

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

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, and the registration fee is 2%. For a property valued at Rs 55,00,000, the total charges would be Rs 4,95,000.

Which office handles registrations for SIDCO NAGAR 7th STREET?

The Villivakkam Sub Registrar Office handles registrations for SIDCO NAGAR 7th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Villivakkam?

The median guideline value in Villivakkam is Rs 4,900 per sq.ft, with SIDCO NAGAR 7th STREET's current guideline value being above this median.