Guideline Value for Vijaj Raja Nagar

Vijaj Raja Nagar guideline value

The current guideline value of Vijaj Raja Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Puthupattu village, under the Madurandakam SRO, and is classified as Residential Special Type - I.

How the guideline value of Vijaj Raja Nagar has changed

The guideline value for Vijaj Raja Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 167 per sq.ft, marking a decrease of 33%. The value then increased to Rs 250 per sq.ft in the 2023 revision, reflecting a 50% increase from the 2017 figure.

The most recent revision in 2024 maintained the guideline value at Rs 250 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthupattu

In Puthupattu, there are six streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 250 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, which is equal to the current figure for Vijaj Raja Nagar.

• Vijai Raja Nagar: Rs 250 per sq.ft (2024)
• Sriram Society Nagar: Rs 250 per sq.ft (2024)
• Rasi Nagar: Rs 100 per sq.ft (2024)
• Giri Nagar: Rs 100 per sq.ft (2024)
• Vasanthi Gopalan Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaj Raja Nagar

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijaj Raja Nagar?

The Sub Registrar Office that covers Vijaj Raja Nagar is 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 Puthupattu

The guideline value is a critical factor in property transactions in Puthupattu. It is used to determine the stamp duty and registration fees payable when buying or selling property. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a benchmark for assessing the transaction's legitimacy. If the sale price is lower than the guideline value, the stamp duty is calculated based on the guideline value to prevent undervaluation.

Frequently asked questions

What is the current guideline value of Vijaj Raja Nagar?

The current guideline value of Vijaj Raja Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then back to Rs 250 per sq.ft in 2023, and remains at Rs 250 per sq.ft in 2024.

What are the other streets in Puthupattu with their guideline values?

Other streets in Puthupattu include Sriram Society Nagar and Vasanthi Gopalan Nagar, both at Rs 250 per sq.ft, and Rasi Nagar and Giri Nagar, both at Rs 100 per sq.ft, as per the 2024 guideline values.

Where is the Madurandakam Sub Registrar Office located?

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

How is stamp duty calculated in Vijaj Raja Nagar?

Stamp duty in Vijaj Raja Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is an additional 2% of the guideline value.