Guideline Value for VIJAYA NAGAR

Vijaya Nagar guideline value

The current guideline value of Vijaya Nagar, located in Sholinganallur - 1 village under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under Residential Class II Type - III land classification.

How the guideline value of Vijaya Nagar has changed

The guideline value for Vijaya Nagar has undergone significant changes over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. With the latest 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a substantial rise of 64% from the previous figure.

It is important to note that there are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street. The most recent figure reflects the current valuation as of July 2024.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Vijaya Nagar.

• Vigneswara Nagar Main Street: Rs 2,200 per sq.ft (2024)
• Vigneswara Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Vigneswara Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Vigneswara Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Vikram Garden: Rs 1,700 per sq.ft (2024)
• Village High Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, calculated at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijaya Nagar?

The Vijaya Nagar area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor during the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Vijaya Nagar?

The current guideline value of Vijaya Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, representing a change of 64%.

Are there any years without guideline values for Vijaya Nagar?

Yes, the register has no figures for Vijaya Nagar for the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value for streets in Sholinganallur - 1?

The median guideline value for streets in Sholinganallur - 1 is Rs 2,200 per sq.ft, which is also the current value for Vijaya Nagar.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.