Guideline Value for Sidco Industrial Area

Sidco Industrial Area guideline value

The current guideline value of Sidco Industrial Area, located in Thirumudivakkam village under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sidco Industrial Area has changed

The guideline value for Sidco Industrial Area has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in the 2023 revision, and currently stands at Rs 1,320 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 3,860 per sq.ft, with the median being Rs 1,320 per sq.ft. The guideline value for Sidco Industrial Area is equal to this median.

• Shridi Sai Baba Nagar: Rs 880 per sq.ft (2024)
• Selliamman Koil Street: Rs 880 per sq.ft (2024)
• Sekkizhar Nagar: Rs 1,320 per sq.ft (2024)
• Sri Devi Nagar: Rs 660 per sq.ft (2024)
• Satheesh Nagar: Rs 660 per sq.ft (2024)
• Sri Harish Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sidco Industrial Area

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, leading to a total of Rs 1,18,800. Please note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sidco Industrial Area?

The Sidco Industrial Area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirumudivakkam. It serves as the basis for calculating stamp duty and registration fees, which must be paid to the government during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher value is used to determine the applicable duties and fees. This ensures that the government receives the correct amount based on the property's value.

Frequently asked questions

What is the current guideline value of Sidco Industrial Area?

The current guideline value of Sidco Industrial Area is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and currently to Rs 1,320 per sq.ft in 2024.

What is the land classification for Sidco Industrial Area?

The land classification for Sidco Industrial Area is Residential Special Type - I.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for property in Sidco Industrial Area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot of 1,000 sq.ft, the guideline value would be Rs 13,20,000, leading to a stamp duty of Rs 92,400.