Guideline Value for Vidhya Nagar

Vidhya Nagar guideline value

The current guideline value of Vidhya Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vidhya Nagar has changed

The guideline value for Vidhya Nagar has seen several revisions over the years. The earliest record is from 2002, with a guideline value of Rs 183 per sq.ft. This increased to Rs 205 per sq.ft in 2003, marking a 12% rise. The value then surged significantly to Rs 1,188 per sq.ft in 2007, reflecting a substantial increase of 480%. Following that, the value reached Rs 2,500 per sq.ft in 2012, which was a decrease of 33% from the previous revision. In 2017, it rose again to Rs 1,675 per sq.ft, an increase of 110% from 2012. The guideline value continued to rise, reaching Rs 2,500 per sq.ft in 2023, which was a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, a 12% increase from the previous year.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1430%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, making Vidhya Nagar's 2024 figure equal to that median.

• Vijaya Ganapathi Koil Street Main: Rs 2,800 per sq.ft (2024)
• Vijaya Ganapathi nagar1st Street: Rs 2,800 per sq.ft (2024)
• Vijayaganapathi nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Vijayaganapathi nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Vikneshwara Nagar Cross Street: Rs 2,800 per sq.ft (2024)
• Vikneshwarar 1st Street: Rs 2,800 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 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total charges to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vidhya Nagar?

The Sub Registrar Office that covers Vidhya Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during a transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is documented accurately according to the prevailing rates set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vidhya Nagar?

The current guideline value of Vidhya Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 183 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1430% over this period.

What is the stamp duty for property in Vidhya Nagar?

The stamp duty for property in Vidhya Nagar is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 1,96,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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 fees are calculated based on the prevailing rates set by the Registration Department.