Guideline Value

Corporate

Guideline Value for VIJAYANAGARAM

₹2750/sq.ft.

The guideline value for Vijayanagaram in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹900 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹91 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹78 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Vijayanagaram

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Vijayanagaram guideline value

The current guideline value of Vijayanagaram, located in Medavakkam village under the Chennai South Joint I SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Vijayanagaram has changed

The guideline value for Vijayanagaram has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 78 per sq.ft. This increased to Rs 91 per sq.ft in 2003, marking a rise of 17%. The value then surged dramatically to Rs 900 per sq.ft in 2007, reflecting an increase of 889%. In 2012, it was recorded at Rs 2,500 per sq.ft, which was a 178% increase from the previous revision. However, the value decreased to Rs 1,675 per sq.ft in 2017, representing a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 2,500 per sq.ft, a 49% increase. The most recent revision in 2024 has set the value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 3426%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making Vijayanagaram's current value of Rs 2,750 per sq.ft above the median.

Stamp duty and registration fee for property in Vijayanagaram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijayanagaram?

The Sub Registrar Office that covers Vijayanagaram is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Medavakkam. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. Buyers must ensure that they consider the guideline value when planning their transactions to avoid any unexpected costs.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Vijayanagaram?

The current guideline value of Vijayanagaram is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 78 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 3426% over the years.

What is the land classification for Vijayanagaram?

The land classification for Vijayanagaram is Commercial Class I Type - III.

Where can I find the Sub Registrar Office for Vijayanagaram?

The Sub Registrar Office for Vijayanagaram is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Vijayanagaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be calculated at 7% of that amount.