Guideline Value for Sidco Main Road

Sidco Main Road guideline value

The current guideline value of Sidco Main Road in Kodungaiyur village is Rs 3,301 per sq.ft, effective from 1 July 2024. This area falls under the Madhavaram SRO and is classified as Commercial Class I Type - I.

How the guideline value of Sidco Main Road has changed

In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 3,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,301 per sq.ft, marking a 10% rise 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, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Sidco Main Road is above this median.

• 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)
• Sidco 3rd Main Road: Rs 2,800 per sq.ft (2024)
• Sidco 2nd Main Road: Rs 2,800 per sq.ft (2024)
• Sidco 1st Main Road: Rs 2,800 per sq.ft (2024)
• Sivakami 1st Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sidco Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,301 per sq.ft, the guideline value amounts to Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, totaling Rs 2,97,090. 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 Main Road?

The Sub Registrar Office covering Sidco 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 through stamp duty and registration fees.

When buying or selling property, the guideline value helps establish a baseline for negotiations. Buyers should be aware of the guideline value to ensure they are making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Sidco Main Road?

The current guideline value of Sidco Main Road is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 3,000 per sq.ft to Rs 3,301 per sq.ft in 2024, marking a 10% increase overall. There were no figures recorded for the years 2002, 2003, 2007, and 2017 for this street.

What is the stamp duty for property on Sidco Main Road?

The stamp duty for property on Sidco Main Road is 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 33,01,000, the stamp duty would be Rs 2,31,070.

Which office handles registrations for Sidco Main Road?

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

What is the land classification for Sidco Main Road?

Sidco Main Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.