Guideline Value for VIJAYANAIDU STREET (WARD -17)

Vijayanaidu Street (Ward -17) guideline value

The current guideline value of Vijayanaidu Street (Ward -17) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Vijayanaidu Street (Ward -17) has changed

The guideline value for Vijayanaidu Street has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The value increased to Rs 600 per sq.ft in the 2023 revision, and then further rose to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Vijayanaidu Street's 2024 value below that median.

• Villier Colony (Ward -2): Rs 440 per sq.ft (2024)
• Villier Street Sattamangalam (Ward -15): Rs 440 per sq.ft (2024)
• Villiery Palayam (Ward -15): Rs 660 per sq.ft (2024)
• Vignesh Nagar (N): Rs 660 per sq.ft (2024)
• Vip Enclave: Rs 1,760 per sq.ft (2024)
• Vishnupriya Avenue Phase -I: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayanaidu Street (Ward -17)

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijayanaidu Street (Ward -17)?

The Sub Registrar Office that covers Vijayanaidu Street (Ward -17) is 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 Ninna Karai

The guideline value is a crucial factor in property transactions, as it determines the amount of stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is often used to assess the market value of the property for taxation purposes.

When purchasing a property, the guideline value helps in calculating the total cost involved in the transaction, ensuring that both parties are aware of the financial obligations. It is essential for buyers to consider this value when negotiating sale prices to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Vijayanaidu Street (Ward -17)?

The current guideline value of Vijayanaidu Street (Ward -17) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent increase from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification for Vijayanaidu Street?

The land classification for Vijayanaidu Street (Ward -17) is Residential Class I Type - III.

Where can I find the Sub Registrar Office for Vijayanaidu Street?

The Chengleput Joint II Sub Registrar Office, which covers Vijayanaidu Street, is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a basis for determining the financial obligations of both buyers and sellers at the time of registration.