Guideline Value for VIJAYA NAGAR

Vijaya Nagar guideline value

The current guideline value of Vijaya Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Vijaya Nagar has changed

The guideline value for Vijaya Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft. In 2017, this figure decreased to Rs 804 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, a rise of 49%. The current 2024 revision has further increased the value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Vijaya Nagar's 2024 figure below that median.

• Vijai Nagar: Rs 1,100 per sq.ft (2024)
• Vigneswara Nagar: Rs 1,650 per sq.ft (2024)
• Vijay Nagar Extn: Rs 1,320 per sq.ft (2024)
• Vimal Nagar: Rs 1,650 per sq.ft (2024)
• Vetrivel Nagar Phase-II: Rs 2,960 per sq.ft (2024)
• Vetrivel Nagar Phase-I: Rs 2,960 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the 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 Vijaya Nagar?

The Vijaya Nagar area falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Varadarajapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from the transaction.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that all parties adhere to the legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Vijaya Nagar?

The current guideline value of Vijaya Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What are the other streets in Varadarajapuram?

Other streets in Varadarajapuram include Vijai Nagar, Vigneswara Nagar, Vijay Nagar Extn, Vimal Nagar, Vetrivel Nagar Phase-I, and Vetrivel Nagar Phase-II, each with their respective guideline values.

What is the registration office for Vijaya Nagar?

The registration office for Vijaya Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,18,800.