Guideline Value for VIJAYAPURAM EXTENSION

Vijayapuram Extension guideline value

The current guideline value of Vijayapuram Extension is Rs 2,900 per sq.ft, effective from 1 July 2024. This area is located in Chitthalapakkam village under the Selaiyur SRO, classified as Industries Type - I.

How the guideline value of Vijayapuram Extension has changed

The guideline value for Vijayapuram Extension has undergone several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was later reduced to Rs 1,809 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,700 per sq.ft, and the current 2024 revision has further increased it to Rs 2,900 per sq.ft, marking a 7% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,900 per sq.ft, which is equal to the current guideline value for Vijayapuram Extension.

• Vijayapuram: Rs 2,900 per sq.ft (2024)
• Vijay Avenue: Rs 2,900 per sq.ft (2024)
• Vijay Avenue 4th Street: Rs 1,900 per sq.ft (2024)
• Vijay Avenue Extension: Rs 2,900 per sq.ft (2024)
• Vignesh Street: Rs 2,700 per sq.ft (2024)
• Vigneshpuram: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayapuram Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. 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 further calculations.

Which Sub Registrar Office covers Vijayapuram Extension?

The Sub Registrar Office covering Vijayapuram Extension is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chitthalapakkam

The guideline value is an important factor when registering property transactions in Chitthalapakkam. It serves as a baseline for calculating stamp duty and registration fees, ensuring that these costs reflect the current market conditions as determined by the government.

When a property is bought or sold, the guideline value is used to assess the taxes owed during the registration process. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Vijayapuram Extension?

The current guideline value of Vijayapuram Extension is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024, marking a 7% increase. It was Rs 1,809 per sq.ft in 2017 and Rs 2,700 per sq.ft in 2012.

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

Other streets in Chitthalapakkam include Vijayapuram, Vijay Avenue, Vijay Avenue 4th Street, Vijay Avenue Extension, Vignesh Street, and Vigneshpuram, with values ranging from Rs 1,900 to Rs 2,900 per sq.ft for 2024.

What is the registration fee for property transactions?

The registration fee is charged at 2% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 29,00,000, the registration fee would be Rs 58,000.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more information by visiting the appropriate link.