Guideline Value for Vidhyalakshmi Street

Vidhyalakshmi Street guideline value

The current guideline value of Vidhyalakshmi Street is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is located in Mudichur village and falls under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of Vidhyalakshmi Street has changed

The guideline value for Vidhyalakshmi Street has undergone several revisions over the years. The earliest revision available is from 2012, where the guideline value was Rs 1,100 per sq.ft. In 2017, it decreased to Rs 737 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,100 per sq.ft in 2023, and further rose by 10% to the current rate of Rs 1,210 per sq.ft in 2024.

There are no figures available for Vidhyalakshmi Street in the years 2002, 2003, and 2007. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Vidhyalakshmi Street is below this median.

• Venkatheri Nagar: Rs 1,210 per sq.ft (2024)
• Vithiyammigai Street: Rs 1,210 per sq.ft (2024)
• Venkateswara Avenue: Rs 2,200 per sq.ft (2024)
• Vivekanandar Street: Rs 1,210 per sq.ft (2024)
• Venkatathri Nagar: Rs 1,760 per sq.ft (2024)
• VOC Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Vidhyalakshmi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, totaling Rs 1,08,900. 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 information.

Which Sub Registrar Office covers Vidhyalakshmi Street?

The Sub Registrar Office that covers Vidhyalakshmi Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical component in the registration process of property transactions in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the guideline value is assessed to ensure that the appropriate fees are collected based on the higher value between the guideline and the sale price. This ensures compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vidhyalakshmi Street?

The current guideline value of Vidhyalakshmi Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the land classification for Vidhyalakshmi Street?

Vidhyalakshmi Street is classified as Residential Class II Type - I under the Padappai SRO.

Where can I find the registration office for Vidhyalakshmi Street?

The registration office for Vidhyalakshmi Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Mudichur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700 at a rate of 7%.