Guideline Value for SRI AMBAL VIJAYALAKSHMI NAGAR

Sri Ambal Vijayalakshmi Nagar guideline value

The current guideline value of Sri Ambal Vijayalakshmi Nagar is Rs 2,955 per sq.ft, effective from 1 July 2024. This area is located in Mepur village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Sri Ambal Vijayalakshmi Nagar has changed

The guideline value for Sri Ambal Vijayalakshmi Nagar has seen significant changes over the years. The 2017 revision set the value at Rs 1,800 per sq.ft, which increased to Rs 2,687 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision has further increased this value to Rs 2,955 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mepur

In Mepur, there are 22 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,955 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value for Sri Ambal Vijayalakshmi Nagar is above this median.

• Sri Balaji Nagar: Rs 660 per sq.ft (2024)
• Sri Balaji Nagar Phase II: Rs 770 per sq.ft (2024)
• Sri Krishna Nagar: Rs 770 per sq.ft (2024)
• Srinivasa Nagar: Rs 550 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,480 per sq.ft (2024)
• Sri Srinivasa Co-op Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ambal Vijayalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,955 per sq.ft, the total guideline value amounts to Rs 29,55,000. The stamp duty at 7% would be Rs 2,06,850, and the registration fee at 2% would be Rs 59,100, leading to a total of Rs 2,65,950. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ambal Vijayalakshmi Nagar?

The Sub Registrar Office that covers Sri Ambal Vijayalakshmi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mepur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the necessary fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Ambal Vijayalakshmi Nagar?

The current guideline value of Sri Ambal Vijayalakshmi Nagar is Rs 2,955 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,800 per sq.ft in 2017 to Rs 2,955 per sq.ft in 2024, marking an overall increase of 64%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 29,55,000, the stamp duty would be Rs 2,06,850 and the registration fee would be Rs 59,100, totaling Rs 2,65,950.

Which office handles registrations for Sri Ambal Vijayalakshmi Nagar?

The Kunrathur Sub Registrar Office handles registrations for Sri Ambal Vijayalakshmi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value during property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for ensuring that the correct fees are paid based on the property's value.