Guideline Value for VICTORY FARM LAND

Victory Farm Land guideline value

The current guideline value of Victory Farm Land is Rs 550 per sq.ft, effective from 1 July 2024. This property is located in Agaramthen village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Victory Farm Land has changed

The guideline value for Victory Farm Land has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, an increase from Rs 500 per sq.ft in 2023. This reflects a 10% rise in value. Prior to that, in 2017, the value was Rs 335 per sq.ft, marking a significant increase of 49% from the 2023 figure. Overall, from 2017 to 2024, the guideline value has increased by 64%.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The only figures available are from the 2017, 2023, and 2024 revisions.

Guideline values in Agaramthen

Agaramthen village consists of 125 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median guideline value for the village is Rs 830 per sq.ft, placing Victory Farm Land's 2024 figure below this median.

• Vgk Green City Phase-II: Rs 1,770 per sq.ft (2024)
• Vgk Green City: Rs 1,770 per sq.ft (2024)
• V.O.C. Street: Rs 830 per sq.ft (2024)
• Veeramamunivar Street: Rs 830 per sq.ft (2024)
• Valmiki Street: Rs 830 per sq.ft (2024)
• Vallalar Street: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Victory Farm Land

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty, charged at 7%, would be Rs 38,500, while the registration fee at 2% would be Rs 11,000. Together, the total cost for these fees would be Rs 49,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Victory Farm Land?

The Sub Registrar Office that covers Victory Farm Land is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Agaramthen. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Victory Farm Land?

The current guideline value of Victory Farm Land is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This represents a 64% increase overall from 2017 to 2024.

What is the median guideline value in Agaramthen?

The median guideline value in Agaramthen is Rs 830 per sq.ft, which is higher than the current value of Victory Farm Land.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 5,50,000, the total fees would amount to Rs 49,500.

Where is the Sub Registrar Office for Victory Farm Land located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.