Guideline Value for V.S. Vijay Nagar

V.S. Vijay Nagar guideline value

The current guideline value of V.S. Vijay Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Malayambakkam village under the Kunrathur SRO, classified as Residential Class I Type - II.

How the guideline value of V.S. Vijay Nagar has changed

The guideline value for V.S. Vijay Nagar has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, it then dropped to Rs 402 per sq.ft in 2017. The 2023 revision brought the value up to Rs 800 per sq.ft, and the most recent revision in 2024 has set it at Rs 880 per sq.ft.

From 2017 to 2023, the value increased by 99%, while the jump from 2023 to 2024 represents a 10% rise. Notably, the increase from 2007 to 2024 totals 487%, showcasing substantial growth over the years.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median value for these streets is Rs 935 per sq.ft, placing V.S. Vijay Nagar's 2024 figure below that median.

• V.P.Nagar: Rs 935 per sq.ft (2024)
• Yadhaval Street: Rs 935 per sq.ft (2024)
• Vlc Saravana Highway City: Rs 1,400 per sq.ft (2024)
• Vlc 7 Star Nagar: Rs 935 per sq.ft (2024)
• V.K. Avenue Extension: Rs 1,210 per sq.ft (2024)
• V.K. Avenue: Rs 935 per sq.ft (2024)

Stamp duty and registration fee for property in V.S. Vijay Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.S. Vijay Nagar?

The Sub Registrar Office that covers V.S. Vijay 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 Malayambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of V.S. Vijay Nagar?

The current guideline value of V.S. Vijay Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 150 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 487% over the years.

What is the median guideline value in Malayambakkam?

The median guideline value for streets in Malayambakkam is Rs 935 per sq.ft, which is higher than the current value of V.S. Vijay Nagar.

How is stamp duty calculated for properties in V.S. Vijay Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at a rate of 7%.

Where can I find the Sub Registrar Office for V.S. Vijay Nagar?

The Sub Registrar Office for V.S. Vijay Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.