Guideline Value

Corporate

Guideline Value for VIKAS NAGAR

₹440/sq.ft.

The guideline value for Vikas Nagar in Palavedu village (Avadi SRO, Chennai zone) is Rs 440 per sq.ft, effective 1 July 2024. It was Rs 400 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavedu

Village

Avadi

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹440 /sq.ft.
From 1-4-2023 ₹400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹268 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹400 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District
044-26558484
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]

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Vikas Nagar guideline value

The current guideline value of Vikas Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Palavedu village and falls under the Avadi SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Vikas Nagar has changed

Over the years, the guideline value of Vikas Nagar has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 400 per sq.ft in the 2023 revision, and finally, it rose to Rs 440 per sq.ft in the 2024 revision. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The most recent change from 2023 to 2024 reflects a rise of 10%. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Palavedu

In Palavedu, there are 18 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 290 to Rs 1,100 per sq.ft. The median guideline value for these streets is Rs 440 per sq.ft, which is equal to the current value of Vikas Nagar.

Stamp duty and registration fee for property in Vikas Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800. Together, the total cost for these fees would be Rs 39,600. 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 information.

Which Sub Registrar Office covers Vikas Nagar?

The Sub Registrar Office that covers Vikas Nagar is the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Palavedu. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to accurately assess the costs involved in property transactions.

When a property is bought or sold, the guideline value is compared to the sale price. The higher of the two values is used to compute the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vikas Nagar?

The current guideline value of Vikas Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 400 per sq.ft in 2023 to Rs 440 per sq.ft in 2024. The value was Rs 268 per sq.ft in 2017, and Rs 400 per sq.ft in 2012.

What is the land classification for Vikas Nagar?

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

Where can I find the Sub Registrar Office for Vikas Nagar?

The Sub Registrar Office covering Vikas Nagar is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for property in Vikas 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 4,40,000, the stamp duty would be Rs 30,800 at 7%.