Guideline Value for VIJAYALAKSHMI NAGAR (WARD-21)

Vijayalakshmi Nagar (Ward-21) guideline value

The current guideline value of Vijayalakshmi Nagar (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Konathi village and falls under the Chengleput Joint II SRO. The land classification for this locality is Residential Class II Type - I.

How the guideline value of Vijayalakshmi Nagar (Ward-21) has changed

The guideline value of Vijayalakshmi Nagar (Ward-21) has undergone several revisions over the years. In 2012, the value was set at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following that, the value increased significantly to Rs 600 per sq.ft in 2023, and the most recent revision in 2024 has raised it to Rs 660 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street in the register.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median value for these streets is Rs 770 per sq.ft, which means that the guideline value of Vijayalakshmi Nagar (Ward-21) is below this median.

• Vijayalakshmi Nagar Vallancheri (Ward -1): Rs 770 per sq.ft (2024)
• Viknarajapuram Vallancheri (Ward -1): Rs 770 per sq.ft (2024)
• Vgp Mount Mary Town (Ward -1): Rs 1,100 per sq.ft (2024)
• Vishnupriya Priya Avenue Ninnakarai: Rs 1,650 per sq.ft (2024)
• Vetrivelan Nagar: Rs 1,980 per sq.ft (2024)
• Vivekananthar Street (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalakshmi Nagar (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijayalakshmi Nagar (Ward-21)?

The Vijayalakshmi Nagar (Ward-21) area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Konathi, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded accurately for taxation purposes.

During the registration process, both the buyer and seller must be aware of the guideline value, as it affects the stamp duty and registration fees that are payable. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar (Ward-21)?

The current guideline value of Vijayalakshmi Nagar (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Vijayalakshmi Nagar (Ward-21)?

The land classification for Vijayalakshmi Nagar (Ward-21) is Residential Class II Type - I.

What is the median guideline value in Konathi village?

The median guideline value in Konathi village is Rs 770 per sq.ft, with Vijayalakshmi Nagar (Ward-21) being below this median.

Where can I find the Sub Registrar Office for Vijayalakshmi Nagar (Ward-21)?

The Chengleput Joint II Sub Registrar Office covers Vijayalakshmi Nagar (Ward-21) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.