Guideline Value for VIJAY NAGAR

Vijay Nagar guideline value

The current guideline value of Vijay Nagar, located in Vichoor village under the Thiruvottiyur SRO, is Rs 485 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Vijay Nagar has changed

The guideline value of Vijay Nagar has seen significant changes over the years. In 2002, the value was Rs 58 per sq.ft, which increased to Rs 150 per sq.ft in 2007. Following this, the value rose sharply to Rs 440 per sq.ft in 2012, but then fell to Rs 295 per sq.ft in 2017. The most recent revisions show that the guideline value increased to Rs 441 per sq.ft in 2023 and is now Rs 485 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 736%. The register has no figure for the year 2003 for this street.

Guideline values in Vichoor

In Vichoor village, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft. The median value is Rs 485 per sq.ft, which is the same as the guideline value for Vijay Nagar.

• Vikaram Nagar: Rs 485 per sq.ft (2024)
• Vellankulam: Rs 485 per sq.ft (2024)
• Velavan Nagar: Rs 485 per sq.ft (2024)
• Subramani Nagar: Rs 485 per sq.ft (2024)
• Subathra Nagar: Rs 330 per sq.ft (2024)
• St. Thomas Nagar: Rs 485 per sq.ft (2024)

Stamp duty and registration fee for property in Vijay Nagar

For a 1,000 sq.ft plot at the current rate of Rs 485 per sq.ft, the guideline value is Rs 4,85,000. The stamp duty at 7% would be Rs 33,950, and the registration fee at 2% would be Rs 9,700, totaling Rs 43,650. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijay Nagar?

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

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

The guideline value is a crucial factor during property registration in Vichoor. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps establish a fair price for both parties involved. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vijay Nagar?

The current guideline value of Vijay Nagar is Rs 485 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 58 per sq.ft in 2002 to Rs 485 per sq.ft in 2024, marking a total increase of 736% over the years.

What is the median guideline value in Vichoor?

The median guideline value in Vichoor is Rs 485 per sq.ft, which is the same as the guideline value for Vijay Nagar.

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

For a property valued at Rs 4,85,000, the stamp duty would be Rs 33,950 and the registration fee would be Rs 9,700, totaling Rs 43,650.

Which office handles property registration for Vijay Nagar?

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