Guideline Value for Vidhya Nagar

Vidhya Nagar guideline value

The current guideline value of Vidhya Nagar, located in Madipakkam-1 village under the Velacheri SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Vidhya Nagar has changed

The guideline value for Vidhya Nagar has undergone significant changes over the years. The 2017 revision recorded a guideline value of Rs 1,675 per sq.ft. The most recent revision in 2024 raised this value to Rs 2,750 per sq.ft, reflecting a change of +64% from the previous figure.

There are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street. Therefore, the only recorded revisions are from 2017 and 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for this area is Rs 2,750 per sq.ft, which is equal to the current value of Vidhya Nagar.

• Vidhyasurabi School Street: Rs 2,200 per sq.ft (2024)
• Vignesh Avenue, Ramurthy Nagar: Rs 2,750 per sq.ft (2024)
• Vijaya Nagar Ponniamman Koil Street: Rs 2,200 per sq.ft (2024)
• Vijay Avenue: Rs 2,200 per sq.ft (2024)
• Venugopal Street: Rs 2,200 per sq.ft (2024)
• Vishaal Nagar: Rs 2,200 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Vidhya Nagar?

The Sub Registrar Office that covers Vidhya Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When you register a property, the guideline value will be compared to the sale price. The higher of the two will be used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Vidhya Nagar?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024, representing a change of +64%.

Are there any years with no guideline value figures for Vidhya Nagar?

Yes, there are no guideline value figures available for the years 2023, 2012, 2007, 2003, and 2002 for Vidhya Nagar.

What is the registration office for Vidhya Nagar?

The registration office that covers Vidhya Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Vidhya Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at 7%.