Guideline Value for VIJAI RAJA NAGAR

Vijai Raja Nagar guideline value

The current guideline value of Vijai Raja Nagar, located in Puthupattu village under the Madurandakam SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Vijai Raja Nagar has changed

The guideline value for Vijai Raja Nagar has seen several revisions over the years. In 2007, the value was Rs 140 per sq.ft, which increased to Rs 250 per sq.ft in 2012. However, it then decreased to Rs 167 per sq.ft in 2017, before returning to Rs 250 per sq.ft in the 2023 revision. The most recent revision in 2024 maintained this value at Rs 250 per sq.ft, indicating no change from the previous year.

Between the revisions, the changes in guideline value were as follows: from 2007 to 2012, there was an increase of 79%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 50% from 2017 to 2023, and from 2023 to 2024, there was no change. Overall, from 2007 to 2024, the guideline value has increased by 79%.

Guideline values in Puthupattu

In Puthupattu, there are six streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 250 per sq.ft. The median value of these streets is Rs 250 per sq.ft, which is equal to the current guideline value of Vijai Raja Nagar.

• Vijaj Raja Nagar: Rs 250 per sq.ft (2024)
• Sriram Society Nagar: Rs 250 per sq.ft (2024)
• Rasi Nagar: Rs 100 per sq.ft (2024)
• Giri Nagar: Rs 100 per sq.ft (2024)
• Vasanthi Gopalan Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Vijai Raja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total cost for these fees Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijai Raja Nagar?

The Sub Registrar Office that covers Vijai Raja Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Puthupattu, the guideline value will be used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

Additionally, the guideline value serves as a reference point for property valuation, helping buyers and sellers understand the worth of the property in relation to similar properties in the area. It is essential to consider these values when engaging in real estate transactions to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vijai Raja Nagar?

The current guideline value of Vijai Raja Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 140 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, decreased to Rs 167 per sq.ft in 2017, and returned to Rs 250 per sq.ft in 2023 and 2024.

What is the land classification for Vijai Raja Nagar?

Vijai Raja Nagar is classified as Residential Special Type - I.

Where is the Sub Registrar Office located for Vijai Raja Nagar?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, for a 1,000 sq.ft plot at Rs 250 per sq.ft, the total fees would amount to Rs 22,500.