Guideline Value for VIDHYA MANDHIR 2ND STREET

Vidhya Mandhir 2nd Street guideline value

The current guideline value of Vidhya Mandhir 2nd 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 it falls under the Residential Class IV Type - I land classification.

How the guideline value of Vidhya Mandhir 2nd Street has changed

The guideline value for Vidhya Mandhir 2nd Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 7,500 per sq.ft. This figure remained unchanged in the 2023 revision, but in the 2024 revision, it increased to Rs 8,200 per sq.ft, reflecting a 9% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. It is important to note that the register has no 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 carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Vidhya Mandhir 2nd Street is below this median.

• Vidhya Mandhir 1st 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 2nd 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, and the registration fee at 2% would be Rs 1,64,000, bringing the total fees to Rs 7,38,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vidhya Mandhir 2nd Street?

The Vidhya Mandhir 2nd Street falls under the Mylapore Sub Registrar Office located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, visit find your SRO.

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

The guideline value is an essential reference point for property transactions in Mylapore. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers should be aware that the guideline value can influence the overall cost of property transactions.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. It is crucial for buyers to check the latest guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Vidhya Mandhir 2nd Street?

The current guideline value for Vidhya Mandhir 2nd 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 for Vidhya Mandhir 2nd Street has increased from Rs 7,500 per sq.ft in 2012 to Rs 8,200 per sq.ft in 2024, reflecting a 9% increase overall. The value remained unchanged from 2012 to 2023.

What is the land classification for Vidhya Mandhir 2nd Street?

Vidhya Mandhir 2nd Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Vidhya Mandhir 2nd Street?

The Sub Registrar Office covering Vidhya Mandhir 2nd Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for properties in Vidhya Mandhir 2nd Street?

The stamp duty for properties in Vidhya Mandhir 2nd Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 82,00,000, the stamp duty would amount to Rs 5,74,000.