Guideline Value for VIJAY NAGAR

Vijay Nagar guideline value

The current guideline value of Vijay Nagar is Rs 485 per sq.ft, effective from 1 July 2024. This area is located in Vichoor_B village under the Thiruvottiyur SRO, classified as Residential Class I 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 2017 revision set the value at Rs 295 per sq.ft, which increased to Rs 441 per sq.ft in 2023. The latest revision in 2024 has further raised the guideline value to Rs 485 per sq.ft, marking a significant increase of 64% from 2017 to 2024. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Between the 2023 and 2024 revisions, the guideline value increased by 10%. The jump from 2017 to 2023 was even more pronounced, with a 49% increase noted during that period. The overall growth from the 2017 revision to the current 2024 figure reflects the changing landscape of property values in the area.

Guideline values in Vichoor_B

In Vichoor_B, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft, with the median value being Rs 485 per sq.ft. The guideline value for Vijay Nagar aligns perfectly with this median.

• 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 guideline value of Rs 485 per sq.ft, the total guideline value would be Rs 4,85,000. The stamp duty at 7% would amount to Rs 33,950, and the registration fee at 2% would be Rs 9,700. Together, the total cost for stamp duty and registration fee would be Rs 43,650. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

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. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vichoor_B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately in the official register, reflecting the current value of the property based on the latest revisions. This helps maintain transparency and fairness in property dealings.

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 295 per sq.ft in 2017 to Rs 441 per sq.ft in 2023, and now to Rs 485 per sq.ft in 2024, reflecting an overall increase of 64% from 2017 to 2024.

What is the land classification of Vijay Nagar?

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

What are the stamp duty rates for property in Vijay Nagar?

The stamp duty for property in Vijay Nagar is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, the registration fee is 2% of the guideline value.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. This office handles all registrations for properties in the Vijay Nagar area.