Guideline Value for Sri Vijaya Nagar

Sri Vijaya Nagar guideline value

The current guideline value of Sri Vijaya Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in 44.Ayanambakkam village under the Konnur Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Sri Vijaya Nagar has changed

The guideline value of Sri Vijaya Nagar has undergone several revisions over the years. In 2017, the value was Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The substantial increase from 2017 to 2023 was 49%, reflecting the changes in the property market during that period.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO that carry a guideline value for 2024, ranging from Rs 801 to Rs 9,702 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, indicating that the guideline value of Sri Vijaya Nagar is below this median.

• Sri Padavattamman Nagar: Rs 1,100 per sq.ft (2024)
• Tamilnadu Association of Cottage Industries: Rs 2,750 per sq.ft (2024)
• Sri Ganseh Nagar: Rs 880 per sq.ft (2024)
• Sri Devi Karumariamman Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Sri Devi Karumariamman Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Sri Devi Karumariamman Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vijaya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Vijaya Nagar?

Sri Vijaya Nagar falls under the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value is a crucial factor in the registration of property transactions in 44.Ayanambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in this area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This process helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Sri Vijaya Nagar?

The current guideline value of Sri Vijaya Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the land classification for Sri Vijaya Nagar?

Sri Vijaya Nagar is classified as Residential Class III Type - I, which indicates its designation for residential use.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Sri Vijaya Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.