Guideline Value for VIJAY AVENUE

Vijay Avenue guideline value

The current guideline value of Vijay Avenue in Kayirambedu village is Rs 700 per sq.ft, effective from 1 July 2024. This falls under the Chengleput Joint II SRO and is classified as Residential Special Type - II.

How the guideline value of Vijay Avenue has changed

Looking at the historical revisions, the guideline value for Vijay Avenue was Rs 700 per sq.ft in 2012, which remained unchanged until the 2023 revision. In 2017, the value was Rs 469 per sq.ft, reflecting a decrease of 33% from the 2012 figure. The 2023 revision maintained the value at Rs 700 per sq.ft, with no change from the previous year, 2024.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 700 per sq.ft, indicating stability in this period. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 3,550 per sq.ft. The median value is Rs 700 per sq.ft, which is equal to the guideline value of Vijay Avenue.

• Vinayaka Nagar: Rs 700 per sq.ft (2024)
• Vishnu Priya Avenue: Rs 1,001 per sq.ft (2024)
• Venus Nagar: Rs 500 per sq.ft (2024)
• Venkat Avenue: Rs 2,389 per sq.ft (2024)
• Vasanthapuram: Rs 700 per sq.ft (2024)
• Vaishnavi Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Vijay Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty is charged at 7%, which would be Rs 49,000, and the registration fee at 2% amounts to Rs 14,000. Together, these fees total Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijay Avenue?

The Vijay Avenue falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Kayirambedu. It determines the minimum value at which the property must be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is crucial for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Vijay Avenue?

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

How has the guideline value changed over the years?

The guideline value has remained constant at Rs 700 per sq.ft from 2012 to 2024, with a previous decrease to Rs 469 per sq.ft in 2017. There was a significant increase of 49% from 2017 to 2023, but no change from 2023 to 2024.

What are the other streets in Kayirambedu with their guideline values?

Other streets in Kayirambedu include Vinayaka Nagar and Vasanthapuram, both at Rs 700 per sq.ft, Vishnu Priya Avenue at Rs 1,001 per sq.ft, Venus Nagar at Rs 500 per sq.ft, and Venkat Avenue at Rs 2,389 per sq.ft.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Vijay Avenue is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Vijay Avenue?

The Chengleput Joint II Sub Registrar Office covers Vijay Avenue, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.