Guideline Value for SIDCO NAGAR

Sidco Nagar guideline value

The current guideline value of Sidco Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Vichoor village under the Thiruvottiyur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Sidco Nagar has changed

In the 2012 revision, the guideline value was Rs 500 per sq.ft. This figure was revised to Rs 335 per sq.ft in 2017, marking a decrease of 33%. However, the value increased significantly to Rs 500 per sq.ft in the 2023 revision, followed by a further increase to Rs 550 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year. The register has no figure for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions indicate a substantial increase of 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024.

Guideline values in Vichoor

In Vichoor, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft. The median guideline value for these streets is Rs 485 per sq.ft, placing Sidco Nagar's 2024 figure above that median.

• Sivakumar Nagar: Rs 485 per sq.ft (2024)
• Selvam Avenu: Rs 330 per sq.ft (2024)
• Sri Devi Nagar: Rs 485 per sq.ft (2024)
• Sastha Nagar: Rs 330 per sq.ft (2024)
• Sri Mahalashmi Nagar: Rs 485 per sq.ft (2024)
• Sri Mugambigai Nagar: Rs 485 per sq.ft (2024)

Stamp duty and registration fee for property in Sidco Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total charges to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sidco Nagar?

The Sub Registrar Office that covers Sidco Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vichoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When registering a property, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sidco Nagar?

The current guideline value of Sidco Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the 2012 revision at Rs 500 per sq.ft, decreasing to Rs 335 per sq.ft in 2017, then increasing to Rs 500 per sq.ft in 2023, and finally reaching Rs 550 per sq.ft in 2024.

What is the median guideline value for streets in Vichoor?

The median guideline value for the 45 streets in Vichoor is Rs 485 per sq.ft, with Sidco Nagar's 2024 figure being above this median.

What are the stamp duty and registration fees for property in Sidco Nagar?

For a plot of 1,000 sq.ft at the current guideline value, the total guideline value is Rs 5,50,000. The stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles property registrations for Sidco Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations for Sidco Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.