Guideline Value for Victoria Town

Victoria Town guideline value

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

How the guideline value of Victoria Town has changed

In the 2017 revision, the guideline value was set at Rs 134 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 200 per sq.ft. The most recent revision in 2024 has kept the guideline value at Rs 200 per sq.ft, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has also increased by 49%, reflecting the same value of Rs 200 per sq.ft in the latest revision.

Guideline values in Vallam_B

In Vallam_B, there are 73 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft. The median guideline value for the village is Rs 400 per sq.ft, placing Victoria Town's 2024 figure below this median.

• Victory Nagar: Rs 400 per sq.ft (2024)
• Vetri Nagar: Rs 400 per sq.ft (2024)
• Venkateswara Nagar: Rs 400 per sq.ft (2024)
• Vishnupriya Nagar: Rs 400 per sq.ft (2024)
• Velavan Nagar: Rs 200 per sq.ft (2024)
• Velalar street: Rs 300 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 at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total 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_B

The guideline value is a crucial factor during the registration process of property transactions in Vallam_B. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, both the buyer and seller must consider the guideline value, as it can affect the overall costs involved in the transaction. It is essential to stay updated on the current guideline values to make informed decisions.

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 increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in both 2023 and 2024, reflecting a 49% increase overall from 2017 to 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 property in Victoria Town?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which office handles property registration for Victoria Town?

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