Guideline Value for VIJAYA RAJESWARI GARDEN II

Vijaya Rajeswari Garden II guideline value

The current guideline value of Vijaya Rajeswari Garden II is Rs 1,700 per sq.ft, effective from 1 July 2024. This locality is situated in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Vijaya Rajeswari Garden II has changed

Over the years, the guideline value for Vijaya Rajeswari Garden II has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which then changed to Rs 1,005 per sq.ft in 2017. This was a decrease of 33%. Subsequently, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then rose again to Rs 1,700 per sq.ft in 2024, marking a 13% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is a modest increase of 13%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with the median value being Rs 1,700 per sq.ft. Vijaya Rajeswari Garden II's guideline value aligns with this median.

• Vijaya Rajaeswari Garden I: Rs 3,300 per sq.ft (2024)
• Vijay Enclave: Rs 4,100 per sq.ft (2024)
• Vijayalakshmi Garden: Rs 1,100 per sq.ft (2024)
• V.O.C Street: Rs 1,700 per sq.ft (2024)
• Venkatesan Garden: Rs 1,000 per sq.ft (2024)
• YADAVAL STREET (Near OMR): Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaya Rajeswari Garden II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total costs together to Rs 1,53,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information on costs.

Which Sub Registrar Office covers Vijaya Rajeswari Garden II?

The Sub Registrar Office that covers Vijaya Rajeswari Garden II is 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Vijaya Rajeswari Garden II?

The current guideline value of Vijaya Rajeswari Garden II is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Vijaya Rajeswari Garden II?

Vijaya Rajeswari Garden II is classified as Residential Class IV Type - I.

Where can I find the Neelankarai Sub Registrar Office?

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

How is the stamp duty calculated for properties in Chemmancheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. It is typically set at 7% of the guideline value, along with a registration fee of 2%.