Guideline Value for Vidya Nagar

Vidya Nagar guideline value

The current guideline value of Vidya Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 2,700 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Vidya Nagar has changed

Over the years, the guideline value of Vidya Nagar has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent 2024 revision has increased the guideline value to Rs 2,700 per sq.ft, representing a significant increase of 61% from 2017.

When looking at the overall changes from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Vidya Nagar is above this median.

• Vidya Nagar, Ponniammanmedu (Ward-23): Rs 2,700 per sq.ft (2024)
• Vignesh Apartments, MRH Road (Ward-10): Rs 2,200 per sq.ft (2024)
• Victory Field (Ward-18): Rs 1,300 per sq.ft (2024)
• Victory Fields Santham Nagar: Rs 2,200 per sq.ft (2024)
• Victory Fields Extension: Rs 2,200 per sq.ft (2024)
• Victory Fields: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vidya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total charges to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vidya Nagar?

The Sub Registrar Office that covers Vidya Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When registering a property, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is officially recorded and that all legal requirements are met.

Frequently asked questions

What is the current guideline value of Vidya Nagar?

The current guideline value of Vidya Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. Overall, from 2012 to 2024, there has been an increase of 8%.

What is the land classification of Vidya Nagar?

Vidya Nagar is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Vidya Nagar?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 2,43,000 in stamp duty and registration fees.