Guideline Value for VIJAY AVENUE EXTENSION

Vijay Avenue Extension guideline value

The current guideline value of Vijay Avenue Extension is Rs 2,900 per sq.ft, effective from 1 July 2024. This property is located in Chitthalapakkam village, under the Selaiyur Sub Registrar Office (SRO). The land classification for this area is Industries Type - I.

How the guideline value of Vijay Avenue Extension has changed

The guideline value for Vijay Avenue Extension has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,700 per sq.ft. This figure saw a decrease to Rs 1,809 per sq.ft in the 2017 revision, which marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,700 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has further increased the guideline value to Rs 2,900 per sq.ft, which is a 7% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value among these streets is Rs 2,900 per sq.ft, which is equal to the guideline value of Vijay Avenue Extension.

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

Stamp duty and registration fee for property in Vijay Avenue Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty charged at 7% would be Rs 2,03,000, while the registration fee at 2% would be Rs 58,000. Together, the total cost for these fees would be Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vijay Avenue Extension?

The Vijay Avenue Extension is covered by 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitthalapakkam. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Vijay Avenue Extension?

The current guideline value of Vijay Avenue Extension is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024, reflecting a 7% increase. It was Rs 1,809 per sq.ft in 2017, which was a decrease from Rs 2,700 per sq.ft in 2012.

What is the median guideline value in Chitthalapakkam?

The median guideline value in Chitthalapakkam is Rs 2,900 per sq.ft, which is the same as the guideline value for Vijay Avenue Extension.

What are the stamp duty and registration fees for a property in Vijay Avenue Extension?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 2,03,000 and the registration fee is Rs 58,000, totaling Rs 2,61,000.

Which office handles the registration for Vijay Avenue Extension?

The Selaiyur Sub Registrar Office handles the registration for Vijay Avenue Extension, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.