Guideline Value for VIJAY NAGAR

Vijay Nagar guideline value

The current guideline value of Vijay Nagar, located in Mabuskanpettai village, is Rs 165 per sq.ft. This value is effective from the 2024 revision and falls under the Residential Class I Type - I land classification within the Thiruvottiyur SRO.

How the guideline value of Vijay Nagar has changed

The guideline value for Vijay Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 150 per sq.ft, which then decreased to Rs 100 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 150 per sq.ft in the 2023 revision, and currently, it stands at Rs 165 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

In summary, the changes between revisions are notable. From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 50%. Overall, from 2012 to 2024, the guideline value has risen by 10%.

Guideline values in Mabuskanpettai

In Mabuskanpettai, there are eight streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 165 to Rs 1,000 per sq.ft. The median guideline value for these streets is Rs 248 per sq.ft, placing Vijay Nagar's current value below this median.

• Sri Sankara Vetrivel Garden: Rs 248 per sq.ft (2024)
• Sri Sankara Balamurugan Nagar: Rs 248 per sq.ft (2024)
• Sri Krishna Nagar Phase II: Rs 248 per sq.ft (2024)
• Sri Kalasathamman Nagar: Rs 248 per sq.ft (2024)
• Sri Gomathi Amman Nagar: Rs 165 per sq.ft (2024)
• Dr. Ambetkar Nagar: Rs 165 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 165 per sq.ft, the total guideline value would be Rs 1,65,000. The stamp duty at 7% would amount to Rs 11,550, and the registration fee at 2% would be Rs 3,300, bringing the total fees together to Rs 14,850. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Vijay Nagar?

The Thiruvottiyur Sub Registrar Office covers Vijay Nagar. The office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Mabuskanpettai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value to avoid discrepancies during registration. It is essential for buyers to be aware of the current guideline value to ensure compliance with legal requirements and to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Vijay Nagar?

The current guideline value of Vijay Nagar is Rs 165 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then to Rs 150 per sq.ft in 2023, and currently stands at Rs 165 per sq.ft in 2024.

What is the median guideline value in Mabuskanpettai?

The median guideline value in Mabuskanpettai is Rs 248 per sq.ft, with Vijay Nagar's current value being below this median.

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

For a 1,000 sq.ft plot at the guideline value of Rs 165 per sq.ft, the total stamp duty would be Rs 11,550 and the registration fee would be Rs 3,300, totaling Rs 14,850.

Where is the Sub Registrar Office for Vijay Nagar located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.