Guideline Value for Sidco 1st Main Road

Sidco 1st Main Road guideline value

The current guideline value of Sidco 1st Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Sidco 1st Main Road has changed

The guideline value for Sidco 1st Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decrease of 33%. However, this value significantly increased to Rs 2,000 per sq.ft in the 2023 revision, and further rose to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that have a guideline value for 2024, ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, which means that the guideline value for Sidco 1st Main Road is below this median.

• Sidco 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Sidco 3rd Main Road: Rs 2,200 per sq.ft (2024)
• Sidco Main Road: Rs 2,200 per sq.ft (2024)
• Singara Garden 1st Street: Rs 1,900 per sq.ft (2024)
• Singara Garden 2nd Street: Rs 1,900 per sq.ft (2024)
• Singara Garden 3rd Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sidco 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sidco 1st Main Road?

The Sub Registrar Office covering Sidco 1st Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial aspect when registering property in Erukancherry, as it determines the minimum value at which a property can be sold or purchased. This value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sidco 1st Main Road?

The current guideline value of Sidco 1st Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023 and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on this road?

For a 1,000 sq.ft plot, the total guideline value would be Rs 22,00,000, resulting in a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Sidco 1st Main Road?

The Madhavaram Sub Registrar Office handles property registrations for Sidco 1st Main Road, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value determined for properties in Erukancherry?

The guideline value is determined based on various factors, including the location, land classification, and historical revisions. It serves as a benchmark for property transactions in the area.