Guideline Value for Vidhyasakar Street

Vidhyasakar Street guideline value

The current guideline value of Vidhyasakar Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Vidhyasakar Street has changed

Over the years, the guideline value of Vidhyasakar Street has undergone several revisions. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, which is an increase of 8% from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 804 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision also had a value of Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 8%.

The register does not provide figures for the years 2002, 2003, and 2007 for Vidhyasakar Street. Therefore, the historical changes only reflect the revisions from 2012 onwards.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value is Rs 2,150 per sq.ft, which means Vidhyasakar Street's 2024 figure is below that median.

• V.G.P.Srinivasa Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar South 6th street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar South 5th street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar South 4th Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar South 3rd Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar South 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vidhyasakar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vidhyasakar Street?

The Sub Registrar Office covering Vidhyasakar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Rajakilpakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value to accurately calculate the costs involved in the transaction. This helps in avoiding any discrepancies during the registration process and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vidhyasakar Street?

The current guideline value of Vidhyasakar Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, an increase of 8%. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012, showing a significant change over the years.

What are the registration fees for properties in Vidhyasakar Street?

The registration fees are calculated based on the guideline value. For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office is responsible for Vidhyasakar Street?

The Selaiyur Sub Registrar Office is responsible for Vidhyasakar Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Vidhyasakar Street?

Vidhyasakar Street is classified as Residential Class II Type - II, indicating its suitability for residential development.