Guideline Value for VIJAY NAGAR

Vijay Nagar guideline value

The current guideline value of Vijay Nagar, located in Vallur village under the Thiruvottiyur SRO, is Rs 220 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Vijay Nagar has changed

The guideline value for Vijay Nagar has undergone several revisions since 2017. In 2017, the guideline value was Rs 134 per sq.ft, which increased to Rs 200 per sq.ft in 2023, reflecting a significant change of 49%. The most recent revision in 2024 raised the value to Rs 220 per sq.ft, marking a further increase of 10% from the previous year.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft, with the median value being Rs 220 per sq.ft. The guideline value of Vijay Nagar is equal to this median.

• Vijayalakshmi Nagar: Rs 220 per sq.ft (2024)
• Vigneswar Nagar: Rs 220 per sq.ft (2024)
• Vinayagar Nagar: Rs 220 per sq.ft (2024)
• V.M.S. Nagar: Rs 220 per sq.ft (2024)
• V.R.Bahavan Nagar: Rs 330 per sq.ft (2024)
• Velankanni Nagar: Rs 220 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 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total costs together to Rs 19,800. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Vijay Nagar?

The Vijay Nagar area is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your specific Sub Registrar Office, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with government regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller adhere to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Vijay Nagar?

The current guideline value of Vijay Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 134 per sq.ft in 2017 to Rs 220 per sq.ft in 2024, reflecting an overall increase of 64%.

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

For a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 and the registration fee would be Rs 4,400, totaling Rs 19,800.

Which office handles registrations for Vijay Nagar?

The Thiruvottiyur Sub Registrar Office handles registrations for Vijay Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the significance of the guideline value?

The guideline value is used as a basis for calculating stamp duty and registration fees during property transactions, ensuring compliance with legal requirements in Vallur.