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 Thailavaram village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class II Type - I.

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

In the 2012 revision, the guideline value was set at Rs 600 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 402 per sq.ft, marking a drop of 33%. The value then increased significantly to Rs 600 per sq.ft in the 2023 revision, and further rose to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a net increase of 10% in the guideline value.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO with a 2024 guideline value range from Rs 440 to Rs 2,200 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)
• Vivekananthar Street (Ward-21): Rs 660 per sq.ft (2024)
• Venkateswara Nagar (Val): Rs 881 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 amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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 Thailavaram

The guideline value is a crucial factor in property transactions in Thailavaram, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

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 increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What are the guideline values of other streets in Thailavaram?

Other streets in Thailavaram have varying guideline values, ranging from Rs 440 to Rs 2,200 per sq.ft, with the median being Rs 770 per sq.ft.

What fees are associated with buying property in Vijayalakshmi Nagar (Ward-21)?

When buying property in Vijayalakshmi Nagar, the stamp duty is typically 7% of the guideline value, and the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

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.