Guideline Value for VIDHYA MANDHIR 1ST STREET

Vidhya Mandhir 1st Street guideline value

The current guideline value of Vidhya Mandhir 1st Street is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Vidhya Mandhir 1st Street has changed

The guideline value for Vidhya Mandhir 1st Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 7,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the latest 2024 revision, the guideline value increased to Rs 8,200 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The register does not provide figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, making the guideline value of Vidhya Mandhir 1st Street below the median.

• Vidhya Mandhir 2nd Street: Rs 8,200 per sq.ft (2024)
• VIDYA THEERTHA NAGAR (St.Marys Road West): Rs 8,200 per sq.ft (2024)
• Vinayagam Nagar: Rs 7,700 per sq.ft (2024)
• Vinayagam Street: Rs 7,100 per sq.ft (2024)
• Venkat Rangam Pillai Street: Rs 7,100 per sq.ft (2024)
• Venkatraman Street: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vidhya Mandhir 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty at 7% would amount to Rs 5,74,000, while the registration fee at 2% would be Rs 1,64,000. Together, the total cost for stamp duty and registration would be Rs 7,38,000. 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 further calculations.

Which Sub Registrar Office covers Vidhya Mandhir 1st Street?

The Sub Registrar Office that covers Vidhya Mandhir 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Mylapore. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. The guideline value helps ensure that the transaction is recorded accurately and fairly in the official registers.

When buying or selling property, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This helps in maintaining transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vidhya Mandhir 1st Street?

The current guideline value of Vidhya Mandhir 1st Street is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,500 per sq.ft in 2012 to Rs 7,500 per sq.ft in 2023, and then to Rs 8,200 per sq.ft in 2024, representing a 9% increase from 2023 to 2024.

What is the land classification for Vidhya Mandhir 1st Street?

Vidhya Mandhir 1st Street is classified as Residential Class IV Type - I.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is the stamp duty calculated for properties in Mylapore?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 82,00,000, the stamp duty would be Rs 5,74,000 at 7%.