Guideline Value for Victoria Town Part-II

Victoria Town Part-II guideline value

The current guideline value of Victoria Town Part-II is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Mettupalayam village under the Sunguvarchattram SRO, classified as Residential Class I Type - I.

How the guideline value of Victoria Town Part-II has changed

The guideline value for Victoria Town Part-II has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was set at Rs 200 per sq.ft. This remained unchanged until the next revision in 2017, which saw a decrease to Rs 134 per sq.ft. However, by 2023, the value returned to Rs 200 per sq.ft, and it has remained the same into the 2024 revision.

From 2017 to 2023, there was a significant increase of 49%. Between 2012 and 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 200 per sq.ft. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mettupalayam

In Mettupalayam, there are 45 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 181 to Rs 900 per sq.ft. The median value is Rs 181 per sq.ft, placing Victoria Town Part-II above this median.

• V.G.P Vinoth Town: Rs 181 per sq.ft (2024)
• VGP Mount View: Rs 181 per sq.ft (2024)
• Vijay Nagar: Rs 181 per sq.ft (2024)
• Venkateswara Nagar Stage - I To IV: Rs 181 per sq.ft (2024)
• Venkateshwara Nagar: Rs 181 per sq.ft (2024)
• Vasantham Gardens: Rs 181 per sq.ft (2024)

Stamp duty and registration fee for property in Victoria Town Part-II

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that 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 Victoria Town Part-II?

The Sub Registrar Office that covers Victoria Town Part-II is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mettupalayam. It is used to determine the stamp duty and registration fees that must be paid during the transaction, ensuring that the property is assessed at a standard value set by the government.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Victoria Town Part-II?

The current guideline value of Victoria Town Part-II is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a decrease to Rs 134 per sq.ft in 2017 and a return to Rs 200 per sq.ft in 2023.

What is the land classification for Victoria Town Part-II?

Victoria Town Part-II is classified as Residential Class I Type - I.

What are the other streets in Mettupalayam?

Other streets in Mettupalayam include V.G.P Vinoth Town, VGP Mount View, Vijay Nagar, Venkateswara Nagar Stage - I To IV, Venkateshwara Nagar, and Vasantham Gardens, all with a 2024 guideline value of Rs 181 per sq.ft.

Where can I find the Sub Registrar Office for Victoria Town Part-II?

The Sub Registrar Office for Victoria Town Part-II is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.