Guideline Value for Sidco Nagar

Sidco Nagar guideline value

The current guideline value of Sidco Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 2,450 per sq.ft, effective from 1 July 2024. This area is classified as Industries Type - I.

How the guideline value of Sidco Nagar has changed

Over the years, the guideline value of Sidco Nagar has seen several revisions. The earliest recorded figure is from 2012, where the guideline value was Rs 2,300 per sq.ft. This was followed by a decrease to Rs 1,541 per sq.ft in the 2017 revision. The most recent revision in 2024 shows an increase to Rs 2,450 per sq.ft, marking a significant change of +59% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +7%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2023 for Sidco Nagar. The 2012 figure was higher than the 2017 figure but lower than the current 2024 figure.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Sidco Nagar is above this median.

• Sigamani Nagar: Rs 1,300 per sq.ft (2024)
• Simmam Avenue (Ward-29): Rs 1,600 per sq.ft (2024)
• Simmam Nagar: Rs 1,300 per sq.ft (2024)
• Simman Avenue (Vinayagapuram): Rs 1,300 per sq.ft (2024)
• Shiyalan Naicker Street (Ward-01): Rs 1,600 per sq.ft (2024)
• Siva Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sidco Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,450 per sq.ft, the total guideline value amounts to Rs 24,50,000. The stamp duty at 7% would be Rs 1,71,500, and the registration fee at 2% would be Rs 49,000, bringing the total charges to Rs 2,20,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Sidco Nagar?

The Sub Registrar Office that covers Sidco Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Madhavaram. It is used to determine the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration laws.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

Frequently asked questions

What is the current guideline value of Sidco Nagar?

The current guideline value of Sidco Nagar is Rs 2,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 in 2012 to Rs 1,541 in 2017, and then increased to Rs 2,450 in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What are the guideline values of other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values, with rates ranging from Rs 1,300 to Rs 2,200 per sq.ft. For example, Sigamani Nagar has a value of Rs 1,300 per sq.ft, while Siva Nagar is valued at Rs 2,200 per sq.ft.

What fees are associated with buying property in Sidco Nagar?

When buying property in Sidco Nagar, buyers should expect to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sidco Nagar?

The Sub Registrar Office for Sidco Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO through the provided link.