Guideline Value for VIJAYA VISHNU NAGAR PHASE-II

Vijaya Vishnu Nagar Phase-II guideline value

The current guideline value for Vijaya Vishnu Nagar Phase-II is Rs 775 per sq.ft, effective from 1 July 2024. This area is located in Mathuranthagam village under the Madurandakam SRO, classified as Residential Special Type - II.

How the guideline value of Vijaya Vishnu Nagar Phase-II has changed

The guideline value for Vijaya Vishnu Nagar Phase-II has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which was then decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 700 per sq.ft in the 2023 revision, and now stands at Rs 775 per sq.ft as of the 2024 revision, marking an increase of 11% from the previous year.

In summary, the changes between revisions show a fluctuation in values. From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which means that the guideline value for Vijaya Vishnu Nagar Phase-II is below this median.

• Vijaya Vishnu Nagar: Rs 770 per sq.ft (2024)
• Viruksham Avenue: Rs 775 per sq.ft (2024)
• Vishnu Nagar: Rs 770 per sq.ft (2024)
• V J K Nagar: Rs 1,110 per sq.ft (2024)
• V.S.N.Avenue: Rs 1,110 per sq.ft (2024)
• VENGATESWARA NAGAR (190/1a/1a2b/1b): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaya Vishnu Nagar Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 775 per sq.ft, the total guideline value amounts to Rs 7,75,000. The stamp duty at 7% would be Rs 54,250, and the registration fee at 2% would be Rs 15,500, bringing the total charges to Rs 69,750. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijaya Vishnu Nagar Phase-II?

The Vijaya Vishnu Nagar Phase-II area falls under the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Mathuranthagam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official registry.

When you buy or sell property, the guideline value will influence the stamp duty and registration fees that need to be paid. This ensures that both buyers and sellers are aware of the government-mandated values that apply to their transactions.

Frequently asked questions

What is the current guideline value of Vijaya Vishnu Nagar Phase-II?

The current guideline value of Vijaya Vishnu Nagar Phase-II is Rs 775 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and is now Rs 775 per sq.ft in 2024.

What is the land classification for Vijaya Vishnu Nagar Phase-II?

The land classification for Vijaya Vishnu Nagar Phase-II is Residential Special Type - II.

What are the other streets in Mathuranthagam with their guideline values?

Other streets in Mathuranthagam include Vijaya Vishnu Nagar at Rs 770 per sq.ft, Viruksham Avenue at Rs 775 per sq.ft, and others ranging up to Rs 1,110 per sq.ft.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.