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_B village under the Thiruvottiyur SRO, classified as Commercial Class I Type - I.

How the guideline value of Sidco Nagar has changed

The guideline value for Sidco Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, an increase from Rs 500 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 335 per sq.ft, indicating a significant increase of 49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The revisions that do have figures show a clear upward trend in the guideline value over the years.

Guideline values in Vichoor_B

In Vichoor_B, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft, with a median value of Rs 485 per sq.ft. Sidco Nagar's 2024 figure of Rs 550 per sq.ft is above this 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 would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling 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 information, 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 more details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Vichoor_B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government collects the appropriate fees based on the value of the property being transferred.

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 increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, representing a total increase of 64% over this period.

What is the land classification for Sidco Nagar?

Sidco Nagar is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 49,500.

Which office handles registrations for Sidco Nagar?

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