Guideline Value for VIJAY GANAPATHY NAGAR

Vijay Ganapathy Nagar guideline value

The current guideline value of Vijay Ganapathy Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Matthur village under the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Vijay Ganapathy Nagar has changed

The guideline value for Vijay Ganapathy Nagar has seen several revisions over the years. Starting from Rs 66 per sq.ft in 2003, it increased to Rs 100 per sq.ft in 2007. The value then rose significantly to Rs 1,000 per sq.ft in 2012, before dropping to Rs 670 per sq.ft in 2017. Following this, it experienced a substantial increase to Rs 1,000 per sq.ft in 2023, and finally reached Rs 1,100 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024, and by 49% from 2017 to 2023. The value decreased by 33% from 2012 to 2017, while it surged by 900% from 2007 to 2012. From 2003 to 2007, the increase was 52%. Overall, from 2003 to 2024, the guideline value has risen by 1567%. The register has no figure for this street in 2002.

Guideline values in Matthur

In Matthur, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with the median being Rs 1,100 per sq.ft. The guideline value of Vijay Ganapathy Nagar is equal to this median.

• 200 Inner Ring Road: Rs 1,650 per sq.ft (2024)
• T N H B Commercial Plots: Rs 3,300 per sq.ft (2024)
• Thiru.VI.Ka Nagar: Rs 1,100 per sq.ft (2024)
• Thirumurugan Nagar Phase I: Rs 1,100 per sq.ft (2024)
• Thirumurugan Nagar: Rs 1,100 per sq.ft (2024)
• Thangavelu Mudaliyar Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vijay Ganapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijay Ganapathy Nagar?

The Vijay Ganapathy Nagar area is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Matthur. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property sale.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both parties adhere to the legal requirements. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Vijay Ganapathy Nagar?

The current guideline value of Vijay Ganapathy Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 66 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, with several revisions in between, showing significant increases and decreases at different points.

What is the land classification for Vijay Ganapathy Nagar?

Vijay Ganapathy Nagar is classified as Residential Special Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Thiruvottiyur Sub Registrar Office covers Vijay Ganapathy Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Vijay Ganapathy Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.