Guideline Value for SIDCO NAGAR IST STREET

Sidco Nagar Ist Street guideline value

The current guideline value of Sidco Nagar Ist 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 Ist Street has changed

The guideline value for Sidco Nagar Ist Street has undergone several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which then decreased to Rs 3,350 per sq.ft in the 2017 revision. Following this, the value increased to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 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 for these streets is Rs 4,900 per sq.ft, placing Sidco Nagar Ist Street's 2024 figure above this median.

• Sidco Nagar Industraial Estate & Estate Road: Rs 5,500 per sq.ft (2024)
• Sidco Nagar (Thnb Phase-I) (Residential Flats): Rs 5,500 per sq.ft (2024)
• 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 8th STREET: 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 Ist 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, totaling Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sidco Nagar Ist Street?

The Sub Registrar Office that covers Sidco Nagar Ist 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 crucial during the registration of property transactions in Villivakkam. It helps determine the stamp duty and registration fees applicable to the property being sold or purchased.

When a property is registered, the guideline value is assessed to ensure that the transaction reflects the correct value for taxation purposes. This ensures compliance with local regulations and helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Sidco Nagar Ist Street?

The current guideline value of Sidco Nagar Ist 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 several times, starting from Rs 5,000 per sq.ft in 2012, decreasing to Rs 3,350 per sq.ft in 2017, then increasing to Rs 5,000 per sq.ft in 2023, and finally reaching Rs 5,500 per sq.ft in 2024.

What is the land classification of Sidco Nagar Ist Street?

Sidco Nagar Ist Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Sidco Nagar Ist Street?

The Sub Registrar Office for Sidco Nagar Ist Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Sidco Nagar Ist Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000.