Guideline Value for VIDYODAYA MAIN ROAD

Vidyodaya Main Road guideline value

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

How the guideline value of Vidyodaya Main Road has changed

The guideline value for Vidyodaya Main Road has seen several revisions over the years. In 2002, the value was Rs 1,745 per sq.ft, which increased to Rs 1,937 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 3,038 per sq.ft in 2007, a change of 57%. Following this, in 2012, the value was Rs 10,000 per sq.ft, reflecting a substantial increase of 229%. However, it dropped to Rs 6,700 per sq.ft in 2017, indicating a decrease of 33%. The value then increased to Rs 10,000 per sq.ft in 2023, followed by a rise to the current figure of Rs 11,000 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 530%. There are no figures available for the revisions in years not listed in the register.

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 value for Vidyodaya Main Road.

• Vidyodaya Ist Cross Street: Rs 11,000 per sq.ft (2024)
• Vidyodaya Colony 1st Main Road: Rs 11,000 per sq.ft (2024)
• Vidyodaya 2nd Cross Street: 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 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, bringing the total to Rs 9,90,000. The duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vidyodaya Main Road?

The Sub Registrar Office that covers Vidyodaya Main Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is crucial when buying or selling property, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

When registering a property, the guideline value serves as a benchmark for the transaction. It helps in maintaining transparency and fairness in property dealings, ensuring that both buyers and sellers are aware of the value assigned to the property by the authorities.

Frequently asked questions

What is the current guideline value of Vidyodaya Main Road?

The current guideline value of Vidyodaya 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 from Rs 1,745 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 530% over the years.

What is the stamp duty for properties on Vidyodaya Main Road?

The stamp duty for properties on Vidyodaya Main Road is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vidyodaya Main Road?

The Sub Registrar Office for Vidyodaya Main Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification for Vidyodaya Main Road?

Vidyodaya Main Road is classified as Residential Special Type - I, which influences its guideline value and property transactions.