Guideline Value for VIJAY NAGAR EXTN

Vijay Nagar Extn guideline value

The current guideline value for Vijay Nagar Extn is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vijay Nagar Extn has changed

The guideline value for Vijay Nagar Extn has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, an increase from the 2023 figure of Rs 1,200 per sq.ft, marking a 10% rise. Prior to that, in 2017, the value was Rs 804 per sq.ft, which means there was a significant increase of 49% by 2023. The 2012 revision also recorded a value of Rs 1,200 per sq.ft, indicating a decrease of 33% when compared to the 2017 figure.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Vijay Nagar Extn is below this median.

• Vimal Nagar: Rs 1,650 per sq.ft (2024)
• Vijaya Nagar: Rs 1,320 per sq.ft (2024)
• Vijai Nagar: Rs 1,100 per sq.ft (2024)
• Vigneswara Nagar: Rs 1,650 per sq.ft (2024)
• Vishwak Gold City: Rs 1,650 per sq.ft (2024)
• V.M. Garden: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vijay Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is important to note that 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 Nagar Extn?

The Vijay Nagar Extn area falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Varadarajapuram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees payable at the time of registration. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements.

Additionally, the guideline value is a reference point for assessing the value of the property being transacted. It helps in maintaining transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value for Vijay Nagar Extn?

The current guideline value for Vijay Nagar Extn is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, with various revisions in between, including Rs 1,200 in 2023 and 2012.

What are the stamp duty and registration fees for property in Vijay Nagar Extn?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Vijay Nagar Extn?

The Padappai Sub Registrar Office handles registrations for Vijay Nagar Extn, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Vijay Nagar Extn?

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