Guideline Value for VIJAYENDRA NAGAR

Vijayendra Nagar guideline value

The current guideline value of Vijayendra Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Perungudi village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of Vijayendra Nagar has changed

The guideline value for Vijayendra Nagar has seen several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then further rose to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the revisions, the most notable change occurred from 2017 to 2023, where the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Vijayendra Nagar matches this median.

• Villiar Medu: Rs 1,100 per sq.ft (2024)
• Vinayaga Avenue: Rs 3,300 per sq.ft (2024)
• Vinayaga Estate Salai: Rs 3,300 per sq.ft (2024)
• Vivekananthar Street: Rs 2,800 per sq.ft (2024)
• V.O.C. Street: Rs 2,800 per sq.ft (2024)
• Vembuliamman Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayendra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to 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 more details.

Which Sub Registrar Office covers Vijayendra Nagar?

The Vijayendra Nagar area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is officially recorded at a value recognized by the government.

When a property is sold, the guideline value helps to establish the minimum value at which the property can be registered. This prevents undervaluation and ensures that appropriate taxes are collected based on the property's worth.

Frequently asked questions

What is the current guideline value of Vijayendra Nagar?

The current guideline value of Vijayendra Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in 2024.

What is the land classification of Vijayendra Nagar?

Vijayendra Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Vijayendra Nagar?

Stamp duty 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 3,300 per sq.ft, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.