Guideline Value for Vidhiyalingam Nagar

Vidhiyalingam Nagar guideline value

The current guideline value of Vidhiyalingam Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vidhiyalingam Nagar has changed

The guideline value for Vidhiyalingam Nagar has seen several revisions over the years. In 2002, the value was Rs 83 per sq.ft, which increased to Rs 118 per sq.ft in 2003, marking a change of +42%. The value then rose significantly to Rs 750 per sq.ft in 2007, reflecting an increase of +536%. In 2012, the value was Rs 2,500 per sq.ft, which was a decrease of -33% from the previous revision. The 2017 revision saw the value increase to Rs 1,675 per sq.ft, a change of +49% from 2012. The most recent revisions show that the value was Rs 2,500 per sq.ft in 2023, and it has now increased to Rs 2,750 per sq.ft in 2024, representing a +10% change.

There are no figures available for the revisions in years other than those mentioned above. Overall, from 2002 to 2024, the guideline value has increased by +3213%.

Guideline values in Nanmangalam

Nanmangalam village has 139 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, which is equal to the current value of Vidhiyalingam Nagar.

• Vignesh Nagar: Rs 2,750 per sq.ft (2024)
• Vigneswara Avenue: Rs 1,980 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 3,300 per sq.ft (2024)
• Visuvasan Street: Rs 2,750 per sq.ft (2024)
• Vivekanadha Street: Rs 1,980 per sq.ft (2024)
• Veerapandi Nagar 1 To 8 Streets: Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in Vidhiyalingam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty is charged at 7%, which totals Rs 1,92,500, and the registration fee is 2%, amounting to Rs 55,000. Therefore, the total charges would be Rs 2,47,500. 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 Vidhiyalingam Nagar?

The Sub Registrar Office that covers Vidhiyalingam Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Nanmangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the authorities will assess the guideline value to ensure that the correct fees are collected. Buyers should be aware that the stamp duty is calculated based on the higher amount between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Vidhiyalingam Nagar?

The current guideline value of Vidhiyalingam Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 83 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of +3213% over this period.

What is the stamp duty rate for properties in Vidhiyalingam Nagar?

The stamp duty rate for properties in Vidhiyalingam Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vidhiyalingam Nagar located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the correct fees are collected based on the higher amount between the guideline value and the sale price.