Guideline Value for VIJAYANAIDU STREET (WARD -17)

Vijayanaidu Street (Ward -17) guideline value

The current guideline value of Vijayanaidu Street (Ward -17) is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

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 earliest available figure is from the 2012 revision, which was Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 500 per sq.ft, and the latest revision in 2024 has set the value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

Between the 2012 and 2017 revisions, there was a notable decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, positioning Vijayanaidu Street's 2024 figure 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 440 per sq.ft (2024)
• Vignesh Nagar (N): Rs 660 per sq.ft (2024)
• Vip Enclave: Rs 1,760 per sq.ft (2024)
• Vishnupriya Avenue (Ward -2): 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 guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty, charged at 7%, would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. 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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Panangottur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value as it affects the overall cost of the transaction. It is essential to check the most recent revisions to understand the current rates applicable to the property in question.

Frequently asked questions

What is the current guideline value of Vijayanaidu Street?

The current guideline value of Vijayanaidu Street (Ward -17) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Vijayanaidu Street?

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

What are the other streets in Panangottur with their guideline values?

Other streets in Panangottur include Villier Colony, Villier Street Sattamangalam, Villiery Palayam, Vignesh Nagar, Vip Enclave, and Vishnupriya Avenue, with guideline values ranging from Rs 440 to Rs 1,760 per sq.ft.

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

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