Guideline Value for SIDCO NAGAR INDUSTRAIAL ESTATE & ESTATE ROAD

Sidco Nagar Industraial Estate & Estate Road guideline value

The current guideline value for Sidco Nagar Industraial Estate & Estate Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Villivakkam village under the Villivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Sidco Nagar Industraial Estate & Estate Road has changed

In the 2012 revision, the guideline value was set at Rs 5,000 per sq.ft. This figure decreased to Rs 3,350 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase in 2023, rising to Rs 5,000 per sq.ft, and further increased to Rs 5,500 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year. The register has no figure for the revisions in 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased dramatically by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%, indicating a notable shift in the valuation of the property in this area.

Guideline values in Villivakkam

Villivakkam has a total of 372 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value in this village is Rs 4,900 per sq.ft, making the current figure for Sidco Nagar Industraial Estate & Estate Road above this median.

• Sidco Nagar (Commercial Side-Main Road): Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 9th STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar Ist Street: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 8th STREET: Rs 5,500 per sq.ft (2024)
• SIDCO NAGAR 7th STREET: Rs 5,500 per sq.ft (2024)
• Sidco Nagar (Thnb Phase-I) (Residential Flats): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sidco Nagar Industraial Estate & Estate Road

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, while the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sidco Nagar Industraial Estate & Estate Road?

The Sub Registrar Office that covers Sidco Nagar Industraial Estate & Estate Road is 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 details.

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

The guideline value is a critical factor in property transactions in Villivakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

During registration, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the current market.

Frequently asked questions

What is the current guideline value for Sidco Nagar Industraial Estate & Estate Road?

The current guideline value for Sidco Nagar Industraial Estate & Estate Road 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 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for Sidco Nagar Industraial Estate & Estate Road?

The land classification for Sidco Nagar Industraial Estate & Estate Road is Residential Class III Type - I.

Where can I find the Sub Registrar Office for Sidco Nagar Industraial Estate & Estate Road?

The Sub Registrar Office for Sidco Nagar Industraial Estate & Estate Road is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Sidco Nagar Industraial Estate & Estate Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 5,500 per sq.ft, the guideline value would be Rs 55,00,000, and the stamp duty would be calculated accordingly.