Guideline Value for VIJAYALAKSHMI NAGAR

Vijayalakshmi Nagar guideline value

The current guideline value of Vijayalakshmi Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Meyur village, under the Oothukkottai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vijayalakshmi Nagar has changed

In the 2017 revision, the guideline value was Rs 54 per sq.ft. This increased significantly to Rs 100 per sq.ft in the 2023 revision, marking an 85% rise. The 2024 revision maintained the same value of Rs 100 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 85%. The consistent value of Rs 100 per sq.ft in both the 2023 and 2024 revisions reflects stability in the guideline value for this period.

Guideline values in Meyur

In Meyur village, there are 12 streets under the Oothukkottai SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft, with a median value of Rs 100 per sq.ft. The guideline value of Vijayalakshmi Nagar aligns with this median.

• Vijayalakshmi Nagar -Ext: Rs 100 per sq.ft (2024)
• Vijayalakshmi Nagar-Phas-II: Rs 100 per sq.ft (2024)
• Vijay Nagar: Rs 100 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 100 per sq.ft (2024)
• Sri Muthappa Nagar: Rs 150 per sq.ft (2024)
• Sri Balaji Avenue: Rs 100 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 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total charges to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vijayalakshmi Nagar?

The Vijayalakshmi Nagar area falls under the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, Chennai 602026. To locate your specific SRO, you can find your SRO.

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

The guideline value is a critical factor during property registration in Meyur. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during the sale and purchase of property.

When a property is registered, the guideline value is used to determine the applicable fees, ensuring that all transactions are conducted transparently and fairly. Buyers and sellers should be aware of the guideline value to understand the costs associated with property transactions.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar?

The current guideline value of Vijayalakshmi Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Vijayalakshmi Nagar was Rs 54 per sq.ft in 2017, increased to Rs 100 per sq.ft in 2023, and has remained the same in 2024. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

What is the land classification of Vijayalakshmi Nagar?

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

Where can I find the Oothukkottai Sub Registrar Office?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, Chennai 602026. This office handles property registrations for the area.

How is stamp duty calculated for properties in Vijayalakshmi Nagar?

Stamp duty for properties in Vijayalakshmi Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000, leading to a stamp duty of Rs 7,000.