Guideline Value for Victorial Nagar

Victorial Nagar guideline value

The current guideline value of Victorial Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Tharapakkam village under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Victorial Nagar has changed

The guideline value for Victorial Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft. Following this, the 2023 revision increased it to Rs 1,000 per sq.ft, marking a significant rise of 49%. The most recent revision in 2024 further increased the value to Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Tharapakkam

In Tharapakkam village, there are 47 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the current value for Victorial Nagar.

• Vignesh Nagar: Rs 1,100 per sq.ft (2024)
• Vigneshwara Nagar: Rs 1,100 per sq.ft (2024)
• Vigneshwara Nagar Annexe: Rs 1,100 per sq.ft (2024)
• Vgn Highland: Rs 3,575 per sq.ft (2024)
• Vellalar Street: Rs 1,100 per sq.ft (2024)
• Sri Krishna Garden: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Victorial Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Victorial Nagar?

The Sub Registrar Office covering Victorial Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tharapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. 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 Victorial Nagar?

The current guideline value of Victorial Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty rates for properties in Victorial Nagar?

The stamp duty for properties in Victorial Nagar is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

What is the median guideline value for streets in Tharapakkam?

The median guideline value for streets in Tharapakkam is Rs 1,100 per sq.ft, which is the same as the current guideline value for Victorial Nagar.