Guideline Value for VIDHYA NAGAR

Vidhya Nagar guideline value

The current guideline value of Vidhya Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Kizhnallathur & Melnallathur village, under the Manavalanagar SRO, and is classified as Residential Class I Type - II.

How the guideline value of Vidhya Nagar has changed

In the 2012 revision, the guideline value was set at Rs 250 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 167 per sq.ft, marking a reduction of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 250 per sq.ft. The 2024 revision has maintained this value, resulting in no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen no net change.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft. The median value is Rs 250 per sq.ft, which is equal to the guideline value of Vidhya Nagar.

• Vigneswara Nagar: Rs 226 per sq.ft (2024)
• Vetri Nagar: Rs 300 per sq.ft (2024)
• Winwilla Nagar: Rs 250 per sq.ft (2024)
• Vasathi Nagar: Rs 200 per sq.ft (2024)
• Vaishnavi Nagar: Rs 250 per sq.ft (2024)
• Thirumalai Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Vidhya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. Please note that the duty is charged on the higher of the guideline value and the sale price.

For more calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vidhya Nagar?

The Vidhya Nagar area is covered by the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value plays a crucial role during the registration of property transactions in Kizhnallathur & Melnallathur. It is used to determine the stamp duty and registration fees that buyers must pay when acquiring property in this area.

When selling property, the guideline value helps establish a baseline for the sale price, ensuring that transactions are recorded accurately and in compliance with local regulations. This ensures transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Vidhya Nagar?

The current guideline value of Vidhya Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2012 to 2024, with a decrease to Rs 167 per sq.ft in 2017 and an increase back to Rs 250 per sq.ft in 2023.

What are the other streets in Kizhnallathur & Melnallathur?

Other streets in Kizhnallathur & Melnallathur include Vigneswara Nagar, Vetri Nagar, Winwilla Nagar, Vasathi Nagar, Vaishnavi Nagar, and Thirumalai Nagar, each with varying guideline values for 2024.

What are the stamp duty and registration fees for property in Vidhya Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 2,50,000. The stamp duty is Rs 17,500, and the registration fee is Rs 5,000, totaling Rs 22,500.

Which Sub Registrar Office covers Vidhya Nagar?

The Manavalanagar Sub Registrar Office covers Vidhya Nagar, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.