Guideline Value for VIJAY AVENUE

Vijay Avenue guideline value

The current guideline value of Vijay Avenue in Chitthalapakkam village is Rs 2,900 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Industries Type - I.

How the guideline value of Vijay Avenue has changed

The guideline value for Vijay Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was then reduced to Rs 1,809 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,700 per sq.ft in 2023 and further to Rs 2,900 per sq.ft in 2024, marking a 7% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but the overall change from 2012 to 2024 shows a slight increase of 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median guideline value is Rs 2,900 per sq.ft, which is the same as the current value for Vijay Avenue.

• Vijay Avenue 4th Street: Rs 1,900 per sq.ft (2024)
• Vijay Avenue Extension: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijay Avenue?

The Sub Registrar Office that covers Vijay Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO here.

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

The guideline value is a crucial factor in property transactions in Chitthalapakkam. It serves as a benchmark for determining the minimum sale price of properties, ensuring that transactions are registered at a value that reflects the current market conditions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Vijay Avenue?

The current guideline value of Vijay Avenue 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 significantly from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then back to Rs 2,700 in 2023, and finally to Rs 2,900 in 2024.

What is the land classification of Vijay Avenue?

Vijay Avenue is classified as Industries Type - I under the current land classification.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 29,00,000, leading to specific fees based on that value.