Guideline Value for Vijai Nagar

Vijai Nagar guideline value

The current guideline value of Vijai Nagar, located in Grandlyon village under the Redhills SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Vijai Nagar has changed

The guideline value for Vijai Nagar has seen significant changes over the years. Starting from Rs 35 per sq.ft in 2003, the value increased dramatically to Rs 500 per sq.ft in 2007. Following that, it rose to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017. By 2023, the value was Rs 700 per sq.ft, and it further increased to Rs 770 per sq.ft in 2024, marking a 10% rise from the previous year.

In summary, the guideline value has increased from Rs 35 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, which reflects an overall increase of 2100% over this period. The register has no figure for the year 2002 for this street.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO, with guideline values ranging from Rs 440 to Rs 1,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing Vijai Nagar's 2024 guideline value above this median.

• V.G. Nagar: Rs 440 per sq.ft (2024)
• Vishnu Nagar: Rs 440 per sq.ft (2024)
• Vishnu Nagar Annex: Rs 440 per sq.ft (2024)
• Udhayasuriyan Nagar: Rs 440 per sq.ft (2024)
• Thiruvalluvar Street: Rs 770 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 770 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijai Nagar?

The Sub Registrar Office that covers Vijai Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Grandlyon. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps in maintaining transparency and compliance 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 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 35 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, showing an overall increase of 2100% over this period.

What is the registration office for Vijai Nagar?

The registration office for Vijai Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark to ensure that the property is registered at a fair value.