Guideline Value for SRI VIDHYA NAGAR EXTENSION

Sri Vidhya Nagar Extension guideline value

The current guideline value of Sri Vidhya Nagar Extension is Rs 750 per sq.ft, effective from 1 July 2024. This area is located in Walajabad village, under the Walajabad SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Sri Vidhya Nagar Extension has changed

Over the years, the guideline value of Sri Vidhya Nagar Extension has seen several revisions. The most recent revision in 2024 maintains the guideline value at Rs 750 per sq.ft, which was also the figure in 2023. Prior to that, in 2017, the guideline value was Rs 502 per sq.ft, marking a significant increase of 49% from 2017 to 2023. In 2012, the value was again Rs 750 per sq.ft, which indicates a decrease of 33% from the 2012 figure to the 2017 figure. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 750 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The fluctuations in the guideline value reflect the adjustments made by the Registration Department over the years.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value is Rs 750 per sq.ft, which is equal to the 2024 figure for Sri Vidhya Nagar Extension. Below are the guideline values for other streets in Walajabad:

• Subramania Nadar St: Rs 750 per sq.ft (2024)
• Sri Sai Nagar: Rs 700 per sq.ft (2024)
• Sri Sai Garden: Rs 700 per sq.ft (2024)
• Sriperumbudur Road(Upto Railway Bridg): Rs 2,000 per sq.ft (2024)
• Sri Pachaiyamman Nagar: Rs 750 per sq.ft (2024)
• Srinivasa Perumal Kovil St: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vidhya Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, while the registration fee at 2% would be Rs 15,000. Together, the total cost for stamp duty and registration fee would be Rs 67,500. 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 details.

Which Sub Registrar Office covers Sri Vidhya Nagar Extension?

The Sri Vidhya Nagar Extension is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Walajabad. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and complies with the regulations set forth by the Registration Department.

It is essential for buyers and sellers to be aware of the current guideline value in their respective areas, as it directly impacts the financial aspects of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Sri Vidhya Nagar Extension?

The current guideline value of Sri Vidhya Nagar Extension is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated over the years, with the most recent figure of Rs 750 per sq.ft being the same as in 2023. The value increased from Rs 502 per sq.ft in 2017 to Rs 750 per sq.ft in 2023.

What is the land classification for Sri Vidhya Nagar Extension?

Sri Vidhya Nagar Extension is classified as Residential Class IV Type - I. This classification is important for determining the guideline value and other regulatory aspects.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500 at 7%, and the registration fee would be Rs 15,000 at 2%. Together, these fees would total Rs 67,500.

Where can I find the Sub Registrar Office for Sri Vidhya Nagar Extension?

The Sub Registrar Office covering Sri Vidhya Nagar Extension is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find more details by visiting the provided link.