Guideline Value for VIJAYALAKSHMI NAGAR -EXT

Vijayalakshmi Nagar -Ext guideline value

The current guideline value for Vijayalakshmi Nagar -Ext is Rs 100 per sq.ft, effective from 1 July 2024. This property is located in Meyur village, under the Oothukkottai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vijayalakshmi Nagar -Ext has changed

The guideline value for Vijayalakshmi Nagar -Ext has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 80 per sq.ft. This increased to Rs 54 per sq.ft in 2017, a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 100 per sq.ft, marking an increase of 85%. The most recent revision in 2024 maintains this figure at Rs 100 per sq.ft, showing no change from the previous year.

It is important to note that there are no recorded guideline values for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 25%.

Guideline values in Meyur

In Meyur village, there are 12 streets under the Oothukkottai SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft. The median guideline value for these streets is Rs 100 per sq.ft, which is equal to the current guideline value for Vijayalakshmi Nagar -Ext.

• Vijayalakshmi Nagar-Phas-II: Rs 100 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 100 per sq.ft (2024)
• Vijay Nagar: Rs 100 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 100 per sq.ft (2024)
• Sri Muthappa Nagar: Rs 150 per sq.ft (2024)
• Sri Balaji Avenue: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalakshmi Nagar -Ext

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 1,00,000. The stamp duty is charged at 7%, totaling Rs 7,000, and the registration fee is 2%, amounting to Rs 2,000. Together, these fees amount to Rs 9,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Vijayalakshmi Nagar -Ext?

The Vijayalakshmi Nagar -Ext property falls under the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Meyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is transparent and based on the official valuation of the property.

Frequently asked questions

What is the current guideline value for Vijayalakshmi Nagar -Ext?

The current guideline value for Vijayalakshmi Nagar -Ext is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2012 to Rs 54 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 1,00,000, the stamp duty is Rs 7,000, and the registration fee is Rs 2,000, totaling Rs 9,000.

Which office handles the registration for Vijayalakshmi Nagar -Ext?

The Oothukkottai Sub Registrar Office handles the registration for Vijayalakshmi Nagar -Ext, located near the government hospital in Uthukottai.

How is the guideline value determined for properties in Meyur?

The guideline value is determined based on several factors and is updated periodically. It serves as a reference for calculating stamp duty and registration fees during property transactions.