Guideline Value for Hidhyath Nagar

Hidhyath Nagar guideline value

The current guideline value of Hidhyath Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village and falls under the Padappai SRO, classified as Residential Special Type - II.

How the guideline value of Hidhyath Nagar has changed

The guideline value for Hidhyath Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following that, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has further raised it to Rs 1,650 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

Guideline values in Varadarajapuram

Varadarajapuram has a total of 250 streets under the Padappai SRO, with the 2024 guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which aligns with the current guideline value of Hidhyath Nagar.

• Hill Road Avenue: Rs 1,100 per sq.ft (2024)
• Hitech City Phase I and II: Rs 1,650 per sq.ft (2024)
• Gurupatham Nagar: Rs 1,100 per sq.ft (2024)
• Guru Ganesh Avenue Phase -III: Rs 3,700 per sq.ft (2024)
• Guru Ganesh Avenue Phase -II: Rs 2,750 per sq.ft (2024)
• GR Nagar Extn 1 to 6: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Hidhyath Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Hidhyath Nagar?

The Sub Registrar Office that covers Hidhyath Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Varadarajapuram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers adhere to the legal requirements during property transfers.

When buying or selling property, the guideline value helps establish a fair price for the transaction, which is necessary for the registration process. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Hidhyath Nagar?

The current guideline value of Hidhyath Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,500 per sq.ft in 2012, dropping to Rs 1,005 per sq.ft in 2017, and then increasing to Rs 1,650 per sq.ft in 2024.

What is the classification of land in Hidhyath Nagar?

The land classification for Hidhyath Nagar is Residential Special Type - II, indicating its specific use for residential purposes.

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

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

How is stamp duty calculated in Hidhyath Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 1,15,500.