Guideline Value for VIDYODAYA COLONY 1ST MAIN ROAD

Vidyodaya Colony 1st Main Road guideline value

The current guideline value for Vidyodaya Colony 1st Main Road is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - I.

How the guideline value of Vidyodaya Colony 1st Main Road has changed

The guideline value for Vidyodaya Colony 1st Main Road has seen several revisions over the years. In 2002, the value was Rs 2,496 per sq.ft, which increased to Rs 2,771 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 3,038 per sq.ft in 2007, reflecting a 10% increase. Following that, in 2012, it was revised to Rs 10,000 per sq.ft, a significant jump of 229%. However, in 2017, the value decreased to Rs 6,700 per sq.ft, a decline of 33%. The most recent revisions show the value at Rs 10,000 per sq.ft in 2023, which then increased to Rs 11,000 per sq.ft in 2024, a rise of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 341%. There are no figures available for revisions in the years not listed in the register for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, which is the same as the current guideline value for Vidyodaya Colony 1st Main Road.

• Vidyodaya 2nd Cross Street: Rs 11,000 per sq.ft (2024)
• Vidyodaya Ist Cross Street: Rs 11,000 per sq.ft (2024)
• Vidyodaya Main Road: Rs 11,000 per sq.ft (2024)
• Vijayaraghava Chari Road: Rs 17,600 per sq.ft (2024)
• Vijayaraghavachari Road Ist Street: Rs 13,200 per sq.ft (2024)
• Vivekanandan Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vidyodaya Colony 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. It is important to 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 Vidyodaya Colony 1st Main Road?

The Sub Registrar Office that covers Vidyodaya Colony 1st Main Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid penalties.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vidyodaya Colony 1st Main Road?

The current guideline value of Vidyodaya Colony 1st Main Road is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 2,496 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 341% over the years.

What are the stamp duty rates for property transactions in Tnagar?

The stamp duty for property transactions in Tnagar is typically charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vidyodaya Colony 1st Main Road located?

The Sub Registrar Office for Vidyodaya Colony 1st Main Road is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the guideline value determined for properties in Tnagar?

The guideline value for properties in Tnagar is determined based on various factors, including the location, land classification, and historical price trends, as recorded in the Registration Department's guideline value register.