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Guideline Value

Corporate

Guideline Value for Vidhyasurabi School Street

₹2200/sq.ft.

The guideline value for Vidhyasurabi School Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Vidhyasurabi School Street

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Vidhyasurabi School Street guideline value

The current guideline value of Vidhyasurabi School Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vidhyasurabi School Street has changed

The guideline value for Vidhyasurabi School Street has undergone several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 1,340 per sq.ft. With the latest revision in 2024, the value increased to Rs 2,200 per sq.ft, marking a significant change of +64% from the 2017 figure. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

In summary, the guideline value rose from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024. This increase reflects the changes in property valuation within the locality, although there are no figures available for the intervening years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the village is Rs 2,750 per sq.ft, placing Vidhyasurabi School Street's 2024 figure below this median.

Stamp duty and registration fee for property in Vidhyasurabi School Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vidhyasurabi School Street?

The Sub Registrar Office that covers Vidhyasurabi School Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is an essential factor when buying or selling property in Madipakkam-1. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government regulations.

When you initiate a property transaction, the guideline value will influence the stamp duty and registration fees applicable. Buyers and sellers should be aware of these values to ensure compliance with local laws during the registration process.

Frequently asked questions

What is the current guideline value of Vidhyasurabi School Street?

The current guideline value of Vidhyasurabi School Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing a +64% increase. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. Vidhyasurabi School Street's current guideline value is below this median.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations in this area?

The Velacheri Sub Registrar Office handles property registrations for Vidhyasurabi School Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.