Guideline Value for VIJAYALAKSHMI NAGAR (WARD-21)

Vijayalakshmi Nagar (Ward-21) guideline value

The current guideline value for Vijayalakshmi Nagar (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Vallancheri 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

The guideline value for Vijayalakshmi Nagar (Ward-21) has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the value 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, marking a 10% increase from the previous year.

From the 2012 revision to the 2024 revision, the overall change has been an increase of 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 825 per sq.ft, which indicates that the guideline value for 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 880 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, making the total charges together Rs 59,400. 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 detailed calculations.

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 Vallancheri

The guideline value plays a crucial role during property registration in Vallancheri. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to accurately assess the costs involved in the transaction.

When a property is sold, the guideline value is considered as a benchmark for the transaction. The duty is charged based on the guideline value or the sale price, whichever is higher, ensuring that the registration reflects the true value of the property being transferred.

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. This reflects a significant increase from the 2017 figure.

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

Vijayalakshmi Nagar (Ward-21) is classified as Residential Class II Type - I. This classification indicates the type of development and usage permitted in the area.

What are the stamp duty rates for property in Vijayalakshmi Nagar (Ward-21)?

The stamp duty rate for property transactions in Vijayalakshmi Nagar (Ward-21) is 7%. This is applied to the higher of the guideline value or the sale price of the property.

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. This office handles all registration activities for the area.