Guideline Value for VIJAYALAKSHMI GARDEN

Vijayalakshmi Garden guideline value

The current guideline value of Vijayalakshmi Garden is Rs 101 per sq.ft, effective from 1 July 2024. This area is located in Kizhavalem village and falls under the Madurandakam SRO. The land classification for this street is Mixed Type - I.

How the guideline value of Vijayalakshmi Garden has changed

In the 2012 revision, the guideline value was Rs 100 per sq.ft. This was followed by a decrease to Rs 67 per sq.ft in the 2017 revision. The value then increased significantly by 49% to Rs 100 per sq.ft in the 2023 revision. The most recent 2024 revision shows a slight increase to Rs 101 per sq.ft, marking a 1% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Vijayalakshmi Garden. Overall, from 2012 to 2024, the guideline value has increased by just 1%.

Guideline values in Kizhavalem

Kizhavalem village has 19 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median value for these streets is Rs 103 per sq.ft, placing Vijayalakshmi Garden's 2024 figure below that median.

• Z.L.M.J.Annex: Rs 100 per sq.ft (2024)
• Z.L.M.J. Nagar: Rs 100 per sq.ft (2024)
• Sri Vinayaga Nagar: Rs 103 per sq.ft (2024)
• Sri Ranga Nagar Phase - II: Rs 100 per sq.ft (2024)
• Sri Ranga Nagar: Rs 101 per sq.ft (2024)
• Sriram Nagar: Rs 120 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalakshmi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, and the registration fee at 2% would be Rs 2,020, leading to a total of Rs 9,090. 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 precise calculations.

Which Sub Registrar Office covers Vijayalakshmi Garden?

The Vijayalakshmi Garden area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Kizhavalem. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the guideline value is compared to the sale price, and the duty is charged on whichever is higher. This ensures that the transaction is recorded accurately in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Garden?

The current guideline value of Vijayalakshmi Garden is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally to Rs 101 per sq.ft in 2024.

What is the land classification in Vijayalakshmi Garden?

The land classification for Vijayalakshmi Garden is Mixed Type - I.

What are the stamp duty and registration fees for properties in Vijayalakshmi Garden?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property with a guideline value of Rs 1,01,000, the total fees would be Rs 9,090.

Which office handles registrations for Vijayalakshmi Garden?

The Madurandakam Sub Registrar Office handles registrations for Vijayalakshmi Garden, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.