Guideline Value for VIJAYALAKSHMI NAGAR VALLANCHERI (WARD -1)

Vijayalakshmi Nagar Vallancheri (Ward -1) guideline value

The current guideline value for Vijayalakshmi Nagar Vallancheri (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Vijayalakshmi Nagar Vallancheri (Ward -1) has changed

Over the years, the guideline value for Vijayalakshmi Nagar Vallancheri has seen several revisions. In 2012, the guideline value was Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 700 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 770 per sq.ft, showing a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Potheri

Potheri village consists of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, which is the same as the current guideline value for Vijayalakshmi Nagar Vallancheri (Ward -1).

• Vijayalakshmi Nagar (Ward-21): Rs 770 per sq.ft (2024)
• Viknarajapuram Vallancheri (Ward -1): Rs 770 per sq.ft (2024)
• Vgp Mount Mary Town (Ward -1): Rs 1,100 per sq.ft (2024)
• Vishnupriya Priya Avenue Ninnakarai: Rs 1,651 per sq.ft (2024)
• Vivekananthar Street (Ward-21): Rs 660 per sq.ft (2024)
• Venkateswara Nagar (Val): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalakshmi Nagar Vallancheri (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total fees together to Rs 69,300. 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 Vallancheri (Ward -1)?

The Vijayalakshmi Nagar Vallancheri (Ward -1) area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for determining the minimum price at which a property can be registered in Potheri. When buying or selling property, it is essential to consider this value as it influences the stamp duty and registration fees applicable during the transaction.

At the time of registration, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the property is accurately valued for legal and taxation purposes.

Frequently asked questions

What is the current guideline value for Vijayalakshmi Nagar Vallancheri (Ward -1)?

The current guideline value for Vijayalakshmi Nagar Vallancheri (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Vijayalakshmi Nagar Vallancheri (Ward -1)?

The land classification for Vijayalakshmi Nagar Vallancheri (Ward -1) is Residential Class I Type - III.

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

The Chengleput Joint II Sub Registrar Office covers Vijayalakshmi Nagar Vallancheri (Ward -1) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Vijayalakshmi Nagar Vallancheri (Ward -1)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.