Guideline Value for VIJAYALAKSHMI NAGAR 2ND STREET

Vijayalakshmi Nagar 2nd Street guideline value

The current guideline value of Vijayalakshmi Nagar 2nd 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 is classified as Commercial Class I Type - II.

How the guideline value of Vijayalakshmi Nagar 2nd Street has changed

The guideline value for Vijayalakshmi Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,250 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, comparing the 2012 figure to the 2024 rate, there has been an 8% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Vijayalakshmi Nagar 2nd Street is above this median.

• Vijayalakshmi Nagar 3rd Street: Rs 3,250 per sq.ft (2024)
• Vijayalakshmi Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,250 per sq.ft, the total guideline value would be Rs 32,50,000. The stamp duty at 7% would amount to Rs 2,27,500, and the registration fee at 2% would be Rs 65,000, bringing the total to Rs 2,92,500. It is important to note that the 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 details.

Which Sub Registrar Office covers Vijayalakshmi Nagar 2nd Street?

The Vijayalakshmi Nagar 2nd Street falls under the jurisdiction of 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 in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar 2nd Street?

The current guideline value of Vijayalakshmi Nagar 2nd Street is Rs 3,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 in 2012 to Rs 2,010 in 2017, then increased to Rs 3,000 in 2023, and finally to Rs 3,250 in 2024. The most significant increase was 49% from 2017 to 2023.

What is the stamp duty rate for property in Vijayalakshmi Nagar 2nd Street?

The stamp duty rate for property transactions in Vijayalakshmi Nagar 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Vijayalakshmi Nagar 2nd Street?

The Sub Registrar Office for Vijayalakshmi Nagar 2nd Street is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the median guideline value in Poonthamallee?

The median guideline value in Poonthamallee is Rs 2,200 per sq.ft, with Vijayalakshmi Nagar 2nd Street's value being above this median at Rs 3,250 per sq.ft.