Guideline Value for VIJAYALAKSHMI NAGAR

Vijayalakshmi Nagar guideline value

The current guideline value of Vijayalakshmi Nagar is Rs 1,642 per sq.ft, effective from 1 July 2024. This locality is situated in Karanaipuducheri village and falls under the Gooduvancheri SRO. The land classification for this area is Mixed Type - III.

How the guideline value of Vijayalakshmi Nagar has changed

The guideline value for Vijayalakshmi Nagar has seen several revisions over the years. The most recent revision in 2024 maintains the guideline value at Rs 1,642 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 1,100 per sq.ft, indicating a significant increase of 49% from 2017 to 2023 and a consistent increase of 49% from 2017 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value rose from Rs 1,100 to Rs 1,642 per sq.ft. The 2024 revision reflects no change from the previous year, but it is noteworthy that the overall increase from 2017 to 2024 is 49%. This consistent growth highlights the evolving nature of property values in this region.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,239 per sq.ft. The median guideline value for these streets is Rs 802 per sq.ft, placing the Vijayalakshmi Nagar guideline value above this median.

• Vijaya Lakshmi Avenue: Rs 1,200 per sq.ft (2024)
• Vinayagapuram 1st Street: Rs 1,000 per sq.ft (2024)
• Z.L.M.J. Lane: Rs 701 per sq.ft (2024)
• Uco Nagar: Rs 1,000 per sq.ft (2024)
• Tremain Project: Rs 804 per sq.ft (2024)
• Teacher's DJM City: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,642 per sq.ft, the total guideline value amounts to Rs 16,42,000. The stamp duty at 7% would be Rs 1,14,940, and the registration fee at 2% would be Rs 32,840, bringing the total fees to Rs 1,47,780. It is important to note that the 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 more details.

Which Sub Registrar Office covers Vijayalakshmi Nagar?

The Vijayalakshmi Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Karanaipuducheri, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties adhere to the legal requirements set by the Registration Department.

During the registration process, the guideline value serves as a benchmark for property valuation. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar?

The current guideline value of Vijayalakshmi Nagar is Rs 1,642 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%, from Rs 1,100 per sq.ft to Rs 1,642 per sq.ft in 2024. The 2023 revision also maintained the same value as 2024, indicating no change.

What is the land classification of Vijayalakshmi Nagar?

The land classification of Vijayalakshmi Nagar is Mixed Type - III, which indicates the type of development permissible in the area.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vijayalakshmi Nagar?

The stamp duty for properties in Vijayalakshmi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable on the guideline value.