Guideline Value for VIJAY AVENUE

Vijay Avenue guideline value

The current guideline value of Vijay Avenue, located in Perumattu Nellore village, is Rs 500 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - I.

How the guideline value of Vijay Avenue has changed

The guideline value for Vijay Avenue has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, in 2017, the value dropped to Rs 335 per sq.ft. The most recent revisions show that the value remained at Rs 500 per sq.ft in both 2023 and 2024, indicating no change from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 25%.

Between the revisions, the most notable change occurred from 2017 to 2023, where the value increased by 49%. The register has no figures for the years 2002 and 2003 for this street, meaning no values are available for those years.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are a total of 83 streets under the Chengleput Joint II SRO that have a guideline value for 2024, ranging from Rs 500 to Rs 2,850 per sq.ft. The median value is Rs 700 per sq.ft, placing Vijay Avenue's 2024 figure below this median.

• Vijayapuram: Rs 500 per sq.ft (2024)
• Vimal Nagar: Rs 700 per sq.ft (2024)
• Vetri Velan Nagar: Rs 500 per sq.ft (2024)
• Varadharaji Nagar: Rs 800 per sq.ft (2024)
• Vanavil Avenue: Rs 501 per sq.ft (2024)
• Vaigai 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, charged at 7%, would be Rs 35,000, while the registration fee at 2% would be Rs 10,000. Therefore, the total cost for these fees would be Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijay Avenue?

The Vijay Avenue is covered by 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 details.

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

The guideline value serves as a benchmark for property transactions in Perumattu Nellore. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is officially recorded and taxed accurately.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of the transaction. The registration process relies on these values to ensure compliance with local regulations and to facilitate a smooth transfer of property ownership.

Frequently asked questions

What is the current guideline value of Vijay Avenue?

The current guideline value of Vijay Avenue is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions showing no change from 2023 to 2024. The overall increase from 2007 to 2024 is 25%.

What is the land classification for Vijay Avenue?

Vijay Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Vijay Avenue?

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

How do stamp duty and registration fees work in Perumattu Nellore?

Stamp duty and registration fees in Perumattu Nellore are calculated based on the guideline value or the sale price, whichever is higher. These fees are essential for the official registration of property transactions.