Guideline Value for VICTORY AVENUE

Victory Avenue guideline value

The current guideline value of Victory Avenue is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Uthukkadu - A, under the Walajabad SRO, and is classified as Residential Special Type - II.

How the guideline value of Victory Avenue has changed

The guideline value for Victory Avenue has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 268 per sq.ft. This figure remained unchanged in the following revisions until 2023, where it was again recorded at Rs 400 per sq.ft. The 2024 revision also holds the same value of Rs 400 per sq.ft, indicating no change from the previous year.

Comparing the revisions, there has been a significant increase of 49% from the 2017 figure to the 2023 figure. Overall, from 2017 to 2024, the guideline value has increased by 49% as well, reflecting a steady valuation over the years.

Guideline values in Uthukkadu - A

In Uthukkadu - A, there are 38 streets under the Walajabad SRO that have a guideline value for 2024, ranging from Rs 200 to Rs 800 per sq.ft. The median value for these streets is Rs 350 per sq.ft, placing Victory Avenue's 2024 figure above that median.

• Vijaya Garden Cottage: Rs 400 per sq.ft (2024)
• Vetri Nagar: Rs 300 per sq.ft (2024)
• Vasantha Nagar: Rs 350 per sq.ft (2024)
• Vaisnavi Avenue Phase -I: Rs 350 per sq.ft (2024)
• Thirukumaran Nagar: Rs 300 per sq.ft (2024)
• Sri Sudharsan Gardens: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Victory Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty charged at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000. Thus, the total cost for these fees together would be Rs 36,000. It is important to note that the 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 Victory Avenue?

The Sub Registrar Office that covers Victory Avenue is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

You can find your SRO for more information.

How the guideline value is used when you buy or sell in Uthukkadu - A

The guideline value plays a crucial role in the registration of property transactions in Uthukkadu - A. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

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

Frequently asked questions

What is the current guideline value of Victory Avenue?

The current guideline value of Victory Avenue is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Victory Avenue has remained at Rs 400 per sq.ft from 2023 to 2024, with a 49% increase from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

What are the guideline values of other streets in Uthukkadu - A?

Other streets in Uthukkadu - A have varying guideline values, ranging from Rs 200 to Rs 800 per sq.ft, with the median being Rs 350 per sq.ft. Victory Avenue's value is above this median.

What fees are associated with property transactions in Victory Avenue?

The fees associated with property transactions include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Victory Avenue located?

The Sub Registrar Office for Victory Avenue is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.