Guideline Value for Vijai Nagar

Vijai Nagar guideline value

The current guideline value of Vijai Nagar, located in Padaalam village under the Madurandakam SRO, is Rs 100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Vijai Nagar has changed

Over the years, the guideline value of Vijai Nagar has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 20 per sq.ft. This increased significantly to Rs 100 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 67 per sq.ft in 2017, which was a 33% drop. The value remained at Rs 100 per sq.ft in the 2023 revision and continues to hold that value in the 2024 revision, showing no change from the previous year.

To summarize the changes: from 2017 to 2023, there was a notable increase of 49%. The overall change from the 2007 revision to the 2024 revision reflects a substantial increase of 400%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Padaalam

In Padaalam, there are four streets under the Madurandakam SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 200 per sq.ft. The median value is Rs 100 per sq.ft, which is equal to the 2024 figure for Vijai Nagar.

• Sri Saraswathi Nagar: Rs 100 per sq.ft (2024)
• Engineers Colony: Rs 200 per sq.ft (2024)
• Athiththiya Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Vijai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total fees Rs 9,000. It is important to note that 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 Vijai Nagar?

The Vijai Nagar area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Padaalam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value.

When a property is sold, the registration office uses the guideline value to assess the applicable taxes and fees. This ensures that all transactions are transparent and comply with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vijai Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 20 per sq.ft in 2007 to Rs 100 per sq.ft in 2012, then decreased to Rs 67 per sq.ft in 2017, and has remained at Rs 100 per sq.ft in both 2023 and 2024.

What are the other streets in Padaalam with guideline values?

Other streets in Padaalam include Sri Saraswathi Nagar at Rs 100 per sq.ft, Engineers Colony at Rs 200 per sq.ft, and Athiththiya Nagar at Rs 100 per sq.ft for the year 2024.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 100 per sq.ft, the total fees would be Rs 9,000.

Where is the Sub Registrar Office for Vijai Nagar located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.