Guideline Value for Sidco 2nd Main Road

Sidco 2nd Main Road guideline value

The current guideline value of Sidco 2nd 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 2nd Main Road has changed

The guideline value for Sidco 2nd Main Road has seen several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then rose again to the current value of Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Erukancherry

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

• Sidco 1st 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 2nd 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 amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees 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 precise calculations.

Which Sub Registrar Office covers Sidco 2nd Main Road?

The Sub Registrar Office that covers Sidco 2nd 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 factor in property transactions in Erukancherry, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value serves as a basis for calculating stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, which are calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Sidco 2nd Main Road?

The current guideline value of Sidco 2nd 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 is the land classification for Sidco 2nd Main Road?

Sidco 2nd Main Road is classified as Residential Class IV Type - I.

Where can I find more information about stamp duty and registration fees?

You can find more information and calculate your fees using the stamp duty and registration fee calculator.

Which office handles property registrations for Sidco 2nd Main Road?

The Madhavaram Sub Registrar Office handles property registrations for Sidco 2nd Main Road, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.