Guideline Value for SIDCO NAGAR 8th STREET

SIDCO NAGAR 8th STREET guideline value

The current guideline value of SIDCO NAGAR 8th 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 8th STREET has changed

Over the years, the guideline value of SIDCO NAGAR 8th STREET has seen significant changes. Starting from the 2007 revision, the value was Rs 950 per sq.ft. This increased to Rs 5,000 per sq.ft in 2012, marking a 426% rise. However, it then decreased to Rs 3,350 per sq.ft in 2017, representing a 33% drop. The value then rose sharply to Rs 5,000 per sq.ft in 2023, and subsequently to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, the guideline value has increased by 479% from 2007 to 2024.

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 value is Rs 4,900 per sq.ft, placing the 2024 guideline value of SIDCO NAGAR 8th STREET above this median.

• SIDCO NAGAR 7th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 9th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 6th STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar (Commercial Side-Main Road): Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 5th STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar Industrial Estate & Estate Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in SIDCO NAGAR 8th STREET

For a 1,000 sq.ft plot at the current rate, the 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 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.

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

Which Sub Registrar Office covers SIDCO NAGAR 8th STREET?

The Sub Registrar Office that covers SIDCO NAGAR 8th 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When you approach the registration office, the guideline value will be referenced to ensure that the property is registered at a value that reflects its current worth according to the official records. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of SIDCO NAGAR 8th STREET?

The current guideline value of SIDCO NAGAR 8th STREET is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 950 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 479%.

What is the land classification of SIDCO NAGAR 8th STREET?

SIDCO NAGAR 8th STREET is classified as Residential Class III Type - I.

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

For a property valued at the current guideline rate, the stamp duty is 7% and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000.

Which Sub Registrar Office is responsible for SIDCO NAGAR 8th STREET?

The Villivakkam Sub Registrar Office is responsible for SIDCO NAGAR 8th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.