Guideline Value for Victoria Nagar

Victoria Nagar guideline value

The current guideline value of Victoria Nagar, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Victoria Nagar has changed

The guideline value for Victoria Nagar has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 126 per sq.ft. It increased to Rs 150 per sq.ft in 2003, marking a 19% rise. The value further increased to Rs 200 per sq.ft in 2007, which was a 33% increase from the previous revision. In 2012, the value was Rs 1,500 per sq.ft, showing a significant jump of 650% from 2007. However, it decreased to Rs 1,005 per sq.ft in 2017, reflecting a decline of 33%.

In the subsequent revisions, the value rose to Rs 1,500 per sq.ft in 2023, a 49% increase from 2017. The latest revision in 2024 has set the guideline value at Rs 1,600 per sq.ft, which is a 7% increase from the previous year. The register has no figure for this street for the years not mentioned.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Victoria Nagar is below this median.

• Victory Avenue: Rs 2,700 per sq.ft (2024)
• Vignesh Nagar: Rs 1,600 per sq.ft (2024)
• Vijaya Lakshmi Avenue: Rs 2,700 per sq.ft (2024)
• Vijaya Lakshmi Nagar: Rs 2,400 per sq.ft (2024)
• VGN Stafford: Rs 2,700 per sq.ft (2024)
• Vinakayar Street(J.B.nagar): Rs 2,400 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. 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 further calculations.

Which Sub Registrar Office covers Victoria Nagar?

The Sub Registrar Office that covers Victoria Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thirumullaivoyal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the fees are calculated based on an official valuation of the property.

It is essential for buyers and sellers to be aware of the guideline value, as it can significantly impact the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Victoria Nagar?

The current guideline value of Victoria Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 126 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 1170%.

What is the registration office for Victoria Nagar?

The registration office for Victoria Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the stamp duty and registration fees for property in Victoria Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that these fees are based on an official valuation of the property.