Guideline Value for VIJAYALAKSHMI NAGAR 3RD STREET

Vijayalakshmi Nagar 3rd Street guideline value

The current guideline value of Vijayalakshmi Nagar 3rd 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 3rd Street has changed

The guideline value for Vijayalakshmi Nagar 3rd Street has undergone several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. This was a significant drop of 33%. However, the value rebounded to Rs 3,000 per sq.ft in the 2023 revision, and then increased by 8% to the current rate of Rs 3,250 per sq.ft in the 2024 revision.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has seen an increase of 8%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register 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. The median value for these streets is Rs 2,200 per sq.ft, placing Vijayalakshmi Nagar 3rd Street's 2024 figure above this median.

• Vijayalakshmi Nagar 2nd 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,250 per sq.ft, the total 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, bringing the total fees to Rs 2,92,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijayalakshmi Nagar 3rd Street?

The Sub Registrar Office that covers Vijayalakshmi Nagar 3rd Street is 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 when registering property transactions in Poonthamallee. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential to refer to the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar 3rd Street?

The current guideline value of Vijayalakshmi Nagar 3rd 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 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,250 per sq.ft in 2024.

What is the land classification of Vijayalakshmi Nagar 3rd Street?

Vijayalakshmi Nagar 3rd Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, a property valued at Rs 32,50,000 would incur a total fee of Rs 2,92,500.

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

The Sub Registrar Office covering Vijayalakshmi Nagar 3rd Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.