Guideline Value for VIJAY ENCLAVE

Vijay Enclave guideline value

The current guideline value of Vijay Enclave, located in Chemmancheri village under the Neelankarai SRO, is Rs 4,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Vijay Enclave has changed

The guideline value for Vijay Enclave has seen several revisions over the years. The 2017 revision set the value at Rs 2,500 per sq.ft, which increased significantly to Rs 3,732 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has further increased this value to Rs 4,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for Vijay Enclave is above this median.

• Vijaya Rajeswari Garden II: Rs 1,700 per sq.ft (2024)
• Vijaya Rajaeswari Garden I: Rs 3,300 per sq.ft (2024)
• Vijayalakshmi Garden: Rs 1,100 per sq.ft (2024)
• V.O.C Street: Rs 1,700 per sq.ft (2024)
• Venkatesan Garden: Rs 1,000 per sq.ft (2024)
• YADAVAL STREET (Near OMR): Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Vijay Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total fees together to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijay Enclave?

The Vijay Enclave falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is registered, the guideline value will be referenced to calculate the necessary fees, ensuring that both buyers and sellers are aware of the financial implications involved in the property transaction.

Frequently asked questions

What is the current guideline value of Vijay Enclave?

The current guideline value of Vijay Enclave is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,500 per sq.ft in 2017 to Rs 3,732 per sq.ft in 2023, and then to Rs 4,100 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the median guideline value in Chemmancheri?

The median guideline value in Chemmancheri is Rs 1,700 per sq.ft, with Vijay Enclave's value being above this median.

What are the stamp duty rates for property in Vijay Enclave?

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

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

The Sub Registrar Office covering Vijay Enclave is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.