Guideline Value for VIJAY NAGAR

Vijay Nagar guideline value

The current guideline value of Vijay Nagar in Perumbakkam village is Rs 2,725 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Vijay Nagar has changed

The guideline value for Vijay Nagar has seen several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,725 per sq.ft from the 2024 revision.

In terms of percentage changes, there was a significant increase of 49% from 2017 to 2023. The 2023 to 2024 revision reflects a 9% increase. Overall, from 2012 to 2024, the guideline value has increased by 9%. It should be noted that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, which is equal to the guideline value of Vijay Nagar.

• V.G.P. Prabhu Nagar Part II: Rs 2,750 per sq.ft (2024)
• V.G.P. Prabhu Nagar: Rs 2,750 per sq.ft (2024)
• V.G.P.Gokul Nagar: Rs 3,300 per sq.ft (2024)
• Wow By Urban Tree: Rs 3,300 per sq.ft (2024)
• Veeramamunivar Street: Rs 3,300 per sq.ft (2024)
• Vanchinathan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vijay Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,725 per sq.ft, the total guideline value amounts to Rs 27,25,000. The stamp duty at 7% would be Rs 1,90,750, and the registration fee at 2% would be Rs 54,500, making the total cost for these fees Rs 2,45,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijay Nagar?

The Vijay Nagar area is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and standardization in property transactions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This helps both buyers and sellers understand the financial obligations associated with the transaction, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vijay Nagar?

The current guideline value of Vijay Nagar is Rs 2,725 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,725 per sq.ft in 2024.

What is the land classification for Vijay Nagar?

Vijay Nagar is classified as Residential Special Type - I under the Selaiyur SRO.

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

For a property valued at Rs 27,25,000, the stamp duty would be Rs 1,90,750 and the registration fee would be Rs 54,500, totaling Rs 2,45,250.

Which office handles property registrations for Vijay Nagar?

The Selaiyur Sub Registrar Office handles property registrations for Vijay Nagar, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.