Guideline Value for VIJAY RAJA NEST

Vijay Raja Nest guideline value

The current guideline value of Vijay Raja Nest is Rs 100 per sq.ft, effective from 1 July 2024. This property is located in Karikili village, under the Salavakkam SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Vijay Raja Nest has changed

The guideline value for Vijay Raja Nest has seen several revisions over the years. The register shows no figures for the years 2002, 2003, and 2007. The 2012 revision set the guideline value at Rs 80 per sq.ft, which decreased to Rs 54 per sq.ft in the 2017 revision. This was a decline of 33%. However, from 2017 to 2023, the guideline value increased significantly to Rs 100 per sq.ft, marking an 85% rise. The 2024 revision maintained this value at Rs 100 per sq.ft, reflecting no change from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 25%. This consistent value from 2023 to 2024 indicates stability in the guideline value for this property.

Guideline values in Karikili

In Karikili village, there are 12 streets under the Salavakkam SRO with a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft. The median guideline value for these streets is Rs 116 per sq.ft, placing Vijay Raja Nest below this median value.

• Veders Garden: Rs 120 per sq.ft (2024)
• Tncpda Colony Extension: Rs 150 per sq.ft (2024)
• Tncpda Colony: Rs 120 per sq.ft (2024)
• Thangam Nagar: Rs 100 per sq.ft (2024)
• Nemichand Park: Rs 100 per sq.ft (2024)
• Madura Nagar: Rs 111 per sq.ft (2024)

Stamp duty and registration fee for property in Vijay Raja Nest

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty is charged at 7%, which totals Rs 7,000, and the registration fee is 2%, amounting to Rs 2,000. Together, the total cost for stamp duty and registration fee would be Rs 9,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijay Raja Nest?

The Vijay Raja Nest property falls under the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. For further assistance, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Karikili. It is used as a benchmark for calculating stamp duty and registration fees, ensuring that the taxes are based on a standardized value rather than the sale price alone.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that they are prepared for these costs, which are mandatory during the registration process.

Frequently asked questions

What is the current guideline value of Vijay Raja Nest?

The current guideline value of Vijay Raja Nest is Rs 100 per sq.ft, effective from 1 July 2024.

How often does the guideline value change?

The guideline value can change with revisions, which have occurred in the years 2012, 2017, 2023, and 2024 for Vijay Raja Nest. The register does not have figures for the years 2002, 2003, and 2007.

What is the guideline value for other streets in Karikili?

Other streets in Karikili have varying guideline values, with rates ranging from Rs 100 to Rs 150 per sq.ft as of 2024. The median value for these streets is Rs 116 per sq.ft.

How is stamp duty calculated for properties in Vijay Raja Nest?

Stamp duty for properties in Vijay Raja Nest is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.

Where can I find more information about the Salavakkam SRO?

More information about the Salavakkam SRO can be found at their office located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can also find your SRO online.