Guideline Value for Sidco 3rd Main Road

Sidco 3rd Main Road guideline value

The current guideline value of Sidco 3rd 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, classified as Residential Class IV Type - I.

How the guideline value of Sidco 3rd Main Road has changed

The guideline value of Sidco 3rd Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft. The latest revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO with a 2024 guideline value 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, indicating that the 2024 guideline value for Sidco 3rd Main Road is below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value is 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, totaling Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sidco 3rd Main Road?

The Sub Registrar Office that covers Sidco 3rd 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 Erukancherry

The guideline value is a crucial factor in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the actual sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sidco 3rd Main Road?

The current guideline value of Sidco 3rd 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 back 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 3rd Main Road?

Sidco 3rd Main Road is classified as Residential Class IV Type - I, indicating its suitability for residential development.

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

You can find more information on stamp duty and registration fees by using the stamp duty and registration fee calculator.

Which office handles registrations for Sidco 3rd Main Road?

The Madhavaram Sub Registrar Office handles registrations for Sidco 3rd Main Road. Its address is No.7, Roja Nagar, Madhavaram, Chennai-600060.