Guideline Value for VIJIYA NAGAR

Vijiya Nagar guideline value

The current guideline value of Vijiya Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Devampattu village under the Ponneri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Vijiya Nagar has changed

The guideline value of Vijiya Nagar has seen several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 67 per sq.ft. In the subsequent revisions, the value increased to Rs 100 per sq.ft in both 2023 and 2024, reflecting a significant change of +49% from 2017 to 2023, and the same overall change from 2017 to 2024. The register has no figures for the revisions in 2002, 2003, 2007, and 2012.

From 2023 to 2024, there was no change in the guideline value, remaining at Rs 100 per sq.ft. Overall, the guideline value has increased by +49% from the 2017 revision to the current 2024 revision.

Guideline values in Devampattu

In addition to Vijiya Nagar, other streets in Devampattu under the Ponneri SRO have their own guideline values. The guideline value for Sai Garden is Rs 150 per sq.ft as of 2024.

• Sai Garden: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Vijiya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total cost Rs 9,000. Duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijiya Nagar?

The Sub Registrar Office that covers Vijiya Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Devampattu. It serves as a benchmark for determining the minimum value of a property, ensuring that the sale price is not undervalued. This value is used to calculate the stamp duty and registration fees that are payable at the time of registration.

When a property is registered, the guideline value or the sale price, whichever is higher, is taken into account for calculating the applicable duties. This ensures that all transactions are conducted fairly and transparently, adhering to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vijiya Nagar?

The current guideline value of Vijiya Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in both 2023 and 2024, marking a total increase of +49% from 2017 to 2024.

What is the registration office for Vijiya Nagar?

The registration office for Vijiya Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Vijiya Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,00,000, the stamp duty at 7% would be Rs 7,000.

Are there other streets in Devampattu with different guideline values?

Yes, other streets in Devampattu have different guideline values. For instance, Sai Garden has a guideline value of Rs 150 per sq.ft as of 2024.