Guideline Value for VIJAYALAKSHMI NAGAR

Vijayalakshmi Nagar guideline value

The current guideline value of Vijayalakshmi Nagar, located in Nadukuthagai village under the Avadi SRO, is Rs 600 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of Vijayalakshmi Nagar has changed

The guideline value for Vijayalakshmi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 550 per sq.ft, which was then reduced to Rs 368 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the 2023 revision increased the value to Rs 550 per sq.ft, and the most recent 2024 revision raised it further to Rs 600 per sq.ft, reflecting a 9% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change in the guideline value is an increase of 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nadukuthagai

In Nadukuthagai, there are 35 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,980 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value of Vijayalakshmi Nagar is below this median.

• Vidhya Nagar: Rs 1,100 per sq.ft (2024)
• Victoria Elsie George Garden Phase - I: Rs 1,650 per sq.ft (2024)
• Victoria Elise George Garden: Rs 880 per sq.ft (2024)
• Thirumalai Nagar / Sri Thirumalai Nagar: Rs 440 per sq.ft (2024)
• Sun City: Rs 1,100 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 440 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 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total to Rs 54,000. Please 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 Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nadukuthagai. It determines the minimum price at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property transaction occurs, the guideline value ensures that the transaction is recorded at a fair value, reflecting the area's market conditions. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar?

The current guideline value of Vijayalakshmi Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 550 per sq.ft in 2012, Rs 368 per sq.ft in 2017, Rs 550 per sq.ft in 2023, and Rs 600 per sq.ft in 2024.

What is the land classification for Vijayalakshmi Nagar?

Vijayalakshmi Nagar falls under the Residential Class II Type - II land classification.

Where is the Avadi Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for properties in Vijayalakshmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 600 per sq.ft would incur a stamp duty of Rs 42,000.