Guideline Value for Victoria Nagar

Victoria Nagar guideline value

The current guideline value of Victoria Nagar, located in Kunduperumpedu village, is Rs 150 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Victoria Nagar has changed

The guideline value of Victoria Nagar has undergone several revisions over the years. In 2007, the value was Rs 25 per sq.ft, which increased significantly to Rs 150 per sq.ft in 2012. However, in 2017, it was revised down to Rs 100 per sq.ft, before rising again to Rs 150 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2012, there was a substantial increase of 500%. The value then decreased by 33% from 2012 to 2017. Following this, the guideline value increased by 50% from 2017 to 2023, and remained unchanged from 2023 to 2024, resulting in an overall increase of 500% from 2007 to 2024.

Guideline values in Kunduperumpedu

Kunduperumpedu village features 35 streets under the Sriperumpudur SRO, with 2024 guideline values ranging from Rs 100 to Rs 500 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Victoria Nagar's current rate below this median.

• Venkateswara Nagar: Rs 150 per sq.ft (2024)
• Vasanthapuri: Rs 200 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 400 per sq.ft (2024)
• Sri Saravana Nagar: Rs 200 per sq.ft (2024)
• Sri Padmanaba Nagar: Rs 200 per sq.ft (2024)
• Sri Moogambikai Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Victoria Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, making the total cost Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Victoria Nagar?

The Sub Registrar Office that covers Victoria Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kunduperumpedu. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the current guideline value as it affects the overall cost of the transaction. Buyers should ensure that they are prepared for these additional costs when considering a property purchase in the area.

Frequently asked questions

What is the current guideline value of Victoria Nagar?

The current guideline value of Victoria Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 25 per sq.ft in 2007 to Rs 150 per sq.ft in 2012, then decreased to Rs 100 per sq.ft in 2017, and remained at Rs 150 per sq.ft in 2023 and 2024.

What is the median guideline value for streets in Kunduperumpedu?

The median guideline value for streets in Kunduperumpedu is Rs 200 per sq.ft, with Victoria Nagar's current rate being below this median.

What are the stamp duty rates for property in Victoria Nagar?

The stamp duty for property transactions in Victoria Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sriperumpudur Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.