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Guideline Value

Corporate

Guideline Value for VIJAYALAKSHMI NAGAR 1ST STREET

₹2420/sq.ft.

The guideline value for Vijayalakshmi Nagar 1st Street in Chettiyaragaram village (Chennai South Joint I SRO, Chennai zone) is Rs 2420 per sq.ft, effective 1 July 2024. It was Rs 2200 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Chettiyaragaram

Village

Chennai South Joint I

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹2420 /sq.ft.
From 1-4-2023 ₹2200 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1474 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2200 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Vijayalakshmi Nagar 1st Street

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Vijayalakshmi Nagar 1st Street guideline value

The current guideline value of Vijayalakshmi Nagar 1st Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Chettiyaragaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Vijayalakshmi Nagar 1st Street has changed

Over the years, the guideline value of Vijayalakshmi Nagar 1st Street has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the most recent 2024 revision has set it at Rs 2,420 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a significant increase of 49% from 2017 to 2023. The guideline value then rose by 10% from 2023 to 2024. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Chettiyaragaram

In Chettiyaragaram, there are 22 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,210 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Vijayalakshmi Nagar 1st Street's 2024 figure above that median.

Stamp duty and registration fee for property in Vijayalakshmi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, leading to a total of Rs 2,17,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijayalakshmi Nagar 1st Street?

The Vijayalakshmi Nagar 1st Street falls under the Chennai South Joint I Sub Registrar Office located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Chettiyaragaram. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is not undervalued during the registration process.

When a buyer and seller agree on a sale price, the higher of the sale price and the guideline value is used to calculate applicable duties and fees. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar 1st Street?

The current guideline value of Vijayalakshmi Nagar 1st Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in 2024.

What is the land classification of Vijayalakshmi Nagar 1st Street?

The land classification for Vijayalakshmi Nagar 1st Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Vijayalakshmi Nagar 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 24,20,000, the stamp duty at 7% would be Rs 1,69,400.