Guideline Value for Sidco 2nd Main Road

Sidco 2nd Main Road guideline value

The current guideline value of Sidco 2nd Main Road is Rs 2,800 per sq.ft, effective from 1 July 2024. This road is located in Kodungaiyur village under the Madhavaram SRO, classified as Industries Type - I.

How the guideline value of Sidco 2nd Main Road has changed

Since the 2012 revision, the guideline value for Sidco 2nd Main Road has seen various changes. In 2012, the value was Rs 2,600 per sq.ft, which decreased to Rs 1,742 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,600 per sq.ft, resulting in a 49% rise. The most recent revision in 2024 has set the value at Rs 2,800 per sq.ft, reflecting an 8% increase from the previous year.

The revisions for the years 2002, 2003, and 2007 do not have figures listed for this street in the register.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Sidco 2nd Main Road's 2024 figure above that median.

• Sidco 1st Main Road: Rs 2,800 per sq.ft (2024)
• Sidco 3rd Main Road: Rs 2,800 per sq.ft (2024)
• Sidco Main Road: Rs 3,301 per sq.ft (2024)
• Sidco Main Road (K.K. Nagar): Rs 3,301 per sq.ft (2024)
• Sidco Main Road (Vivekananda Nagar): Rs 3,301 per sq.ft (2024)
• Sivakami 1st Cross Street: Rs 2,200 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 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty is calculated at 7%, resulting in Rs 1,96,000, while the registration fee at 2% comes to Rs 56,000. Together, the total cost for stamp duty and registration fee would be Rs 2,52,000. 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 details.

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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Kodungaiyur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures transparency and compliance with legal requirements during property transactions.

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 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,600 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, an increase of 8%. It was Rs 1,742 per sq.ft in 2017, showing a significant increase of 49% to reach the 2023 figure.

What is the median guideline value for streets in Kodungaiyur?

The median guideline value for streets in Kodungaiyur is Rs 2,700 per sq.ft. The value of Sidco 2nd Main Road is above this median.

What are the stamp duty rates applicable?

The stamp duty for properties in Tamil Nadu is typically charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is generally 2% of the guideline value.

Where can I find the Sub Registrar Office for Sidco 2nd Main Road?

The Sub Registrar Office covering Sidco 2nd Main Road is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information through the provided link.