Guideline Value for VICTORYA AVENUE

Victorya Avenue guideline value

The current guideline value of Victorya Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chitthalapakkam village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Victorya Avenue has changed

The guideline value for Victorya Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft. However, this figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly to Rs 2,500 per sq.ft in the 2023 revision, followed by a further rise to Rs 2,700 per sq.ft in the 2024 revision, which is an increase of 8% from the previous year.

There are no recorded guideline values for Victorya Avenue in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO, with guideline values for 2024 ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,900 per sq.ft, placing Victorya Avenue's 2024 figure below this median.

• Vigneshpuram: Rs 2,700 per sq.ft (2024)
• Vignesh Street: Rs 2,700 per sq.ft (2024)
• Vijayapuram: Rs 2,900 per sq.ft (2024)
• Vijayapuram Extension: Rs 2,900 per sq.ft (2024)
• Vijay Avenue: Rs 2,900 per sq.ft (2024)
• Vijay Avenue 4th Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Victorya Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. Please 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 Victorya Avenue?

The Sub Registrar Office that covers Victorya Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chitthalapakkam

The guideline value is a crucial factor in the registration process of property transactions in Chitthalapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value will be compared to the sale price. The higher of the two values will be used to calculate the applicable duties and fees, ensuring that the correct amount is paid to the authorities.

Frequently asked questions

What is the current guideline value of Victorya Avenue?

The current guideline value of Victorya Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Victorya Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,43,000, which includes a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000.

Which office handles property registrations for Victorya Avenue?

The Selaiyur Sub Registrar Office handles property registrations for Victorya Avenue, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value for streets in Chitthalapakkam?

The median guideline value for streets in Chitthalapakkam is Rs 2,900 per sq.ft, which is higher than the current value for Victorya Avenue.