Guideline Value for HERITAGE VIJAYENDRA NAGAR

Heritage Vijayendra Nagar guideline value

The current guideline value of Heritage Vijayendra Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This locality is situated in Perungudi village under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Heritage Vijayendra Nagar has changed

The guideline value for Heritage Vijayendra Nagar has seen several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 300 per sq.ft. This increased to Rs 814 per sq.ft in 2007, followed by a significant rise to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023 and is currently set at Rs 2,800 per sq.ft from the 2024 revision. The register has no figure for this street in 2002.

Between the revisions, the changes were notable. From 2003 to 2007, there was an increase of +171%. The value then surged by +207% from 2007 to 2012. A decrease of -33% occurred from 2012 to 2017, followed by a substantial increase of +49% from 2017 to 2023. The most recent change from 2023 to 2024 is +12%. Overall, from 2003 to 2024, the guideline value has increased by +833%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Heritage Vijayendra Nagar is below this median.

• Heramba Ganapathy Nagar: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 2nd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Heritage Vijayendra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty is charged at 7%, which totals Rs 1,96,000, and the registration fee at 2% amounts to Rs 56,000. Together, these fees total Rs 2,52,000. It is important to note that 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 Heritage Vijayendra Nagar?

The Sub Registrar Office that covers Heritage Vijayendra Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Perungudi. It determines the minimum value at which the property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the stamp duty. Buyers must be aware that the duty is applied to the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Heritage Vijayendra Nagar?

The current guideline value of Heritage Vijayendra Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 300 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +833% over the years.

What are the other streets in Perungudi with the same guideline value?

Other streets in Perungudi with the same guideline value of Rs 2,800 per sq.ft in 2024 include Heramba Ganapathy Nagar and several streets in Govindasamy Nagar.

What fees are associated with buying property in Heritage Vijayendra Nagar?

When buying property, fees include stamp duty at 7% and a registration fee at 2% of the guideline value. For instance, for a 1,000 sq.ft plot, these fees can total Rs 2,52,000.

Where can I find the Sub Registrar Office for Heritage Vijayendra Nagar?

The Sub Registrar Office for Heritage Vijayendra Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.