Guideline Value for Victoria Town

Victoria Town guideline value

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

How the guideline value of Victoria Town has changed

Over the years, the guideline value for Victoria Town has seen several revisions. The 2007 revision set the value at Rs 40 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2012. However, this value saw a decrease of 33% to Rs 134 per sq.ft in 2017. The subsequent revisions maintained the value at Rs 200 per sq.ft for both 2023 and 2024, indicating no change between these two years. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the value increased by 49%, and from 2007 to 2024, there has been a total increase of 400%. The revisions reflect the changing landscape of property values in the area while maintaining a stable guideline value in recent years.

Guideline values in Vallam

In Vallam, there are 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft. The median value is Rs 200 per sq.ft, placing Victoria Town's guideline value at the median level.

• Vishnupriya Nagar: Rs 400 per sq.ft (2024)
• Velavan Nagar: Rs 200 per sq.ft (2024)
• Velalar street: Rs 300 per sq.ft (2024)
• Vallakottai Velavan Nagar Extension: Rs 601 per sq.ft (2024)
• Vallakottai Velavan Nagar: Rs 200 per sq.ft (2024)
• Vallakottai Murugan Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Victoria Town

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, totaling Rs 14,000, and the registration fee is 2%, amounting to Rs 4,000. Together, these fees amount to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Victoria Town?

The Sub Registrar Office that covers Victoria Town 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 Vallam

The guideline value is a crucial factor in the registration process when buying or selling property in Vallam. It determines the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the government register.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and 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?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 40 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017. It has remained at Rs 200 per sq.ft for both 2023 and 2024.

What is the land classification of Victoria Town?

Victoria Town is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Victoria Town?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 18,000.

Which office handles property registrations in Victoria Town?

The Sriperumpudur Sub Registrar Office handles property registrations in Victoria Town, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.