Guideline Value for VIJAYALAKSHMI NAGAR VALLANCHERI (WARD -1)

Vijayalakshmi Nagar Vallancheri (Ward -1) guideline value

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

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

The guideline value for Vijayalakshmi Nagar Vallancheri has seen several revisions over the years. The 2012 revision recorded a guideline value of Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 700 per sq.ft in 2023. The most recent revision in 2024 shows an increase to Rs 770 per sq.ft, marking a 10% rise from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 770 per sq.ft, which is the same as the current value for Vijayalakshmi Nagar Vallancheri (Ward -1).

• Vijayalakshmi Nagar (Ward-21): Rs 660 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 1,650 per sq.ft (2024)
• Vivekananthar Street (Ward-21): Rs 660 per sq.ft (2024)
• Venkateswara Nagar (Val): Rs 881 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 amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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 Thailavaram

The guideline value is a crucial factor during the registration of property transactions in Thailavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

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

The current guideline value of 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 of Vijayalakshmi Nagar Vallancheri?

Vijayalakshmi Nagar Vallancheri is classified as Residential Class I Type - III, indicating its suitability for residential development.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers this area?

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