Guideline Value for VIJAYALAKSHMI NAGAR 1ST STREET

Vijayalakshmi Nagar 1st Street guideline value

The current guideline value of Vijayalakshmi Nagar 1st Street is Rs 3,250 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village under the Poonamallee SRO, and it falls under the Commercial Class I Type - II land classification.

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

In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. This figure then decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 3,250 per sq.ft, an 8% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Poonthamallee

Poonthamallee village has 257 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the 2024 guideline value of Vijayalakshmi Nagar 1st Street above this median.

• Vijayalakshmi Nagar 2nd Street: Rs 3,250 per sq.ft (2024)
• Vijayalakshmi Nagar 3rd Street: Rs 3,250 per sq.ft (2024)
• Vijayalakshmi nagar: Rs 3,250 per sq.ft (2024)
• Vijayalakshmi avenue: Rs 2,200 per sq.ft (2024)
• Viswanathan nagar MS: Rs 2,200 per sq.ft (2024)
• VPR Avenue: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,250 per sq.ft, the guideline value amounts to Rs 32,50,000. The stamp duty at 7% would be Rs 2,27,500, and the registration fee at 2% would be Rs 65,000, making the total Rs 2,92,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can 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 Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Poonthamallee. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is in compliance with local regulations.

When buying or selling property, the guideline value helps to determine the minimum value at which the property can be registered. This means that buyers and sellers must consider the guideline value in their negotiations to comply with the legal requirements.

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 3,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen various changes. It was Rs 3,000 in 2012, dropped to Rs 2,010 in 2017, rose to Rs 3,000 in 2023, and currently stands at Rs 3,250 in 2024.

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

Vijayalakshmi Nagar 1st Street is classified under Commercial Class I Type - II land classification.

What other streets have the same guideline value?

Other streets in Poonthamallee, such as Vijayalakshmi Nagar 2nd Street, 3rd Street, and Vijayalakshmi nagar, also share the same guideline value of Rs 3,250 per sq.ft in 2024.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. This office handles the registration of properties in the area.