Guideline Value for VIDHYAPALLI STREET

Vidhyapalli Street guideline value

The current guideline value of Vidhyapalli Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Vidhyapalli Street has changed

In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. This figure was later revised to Rs 1,340 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the guideline value increased significantly by 49%, reaching Rs 2,000 per sq.ft. The most recent revision in 2024 raised the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Vidhyapalli Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, which matches the guideline value of Vidhyapalli Street.

• Vignaeswara Nagar Phase I & II: Rs 2,750 per sq.ft (2024)
• V.G.P.Amaravathi Nagar: Rs 2,750 per sq.ft (2024)
• Vivekanthar Street: Rs 2,200 per sq.ft (2024)
• V.O.C. Street: Rs 2,200 per sq.ft (2024)
• Venkadesan Street: Rs 2,200 per sq.ft (2024)
• Veerathamman Koil West Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vidhyapalli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, calculated at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these charges Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vidhyapalli Street?

The Sub Registrar Office that covers Vidhyapalli Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035, in the Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the value of the property and the applicable stamp duty and registration fees.

When finalizing a property transaction, the guideline value helps ensure that all parties are aware of the official valuation set by the government, which is crucial for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Vidhyapalli Street?

The current guideline value of Vidhyapalli Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back up to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Vidhyapalli Street?

Vidhyapalli Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Vidhyapalli Street?

The Sub Registrar Office for Vidhyapalli Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Vidhyapalli Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 1,54,000.