Guideline Value for Vijay Avenue

Vijay Avenue guideline value

The current guideline value of Vijay Avenue, located in Nalambakkam village under the Gooduvancheri SRO, is Rs 800 per sq.ft. This value was established in the 2023 revision and applies to residential land classified as Class I Type - I.

How the guideline value of Vijay Avenue has changed

Over the years, the guideline value for Vijay Avenue has seen several revisions. In 2012, the guideline value was Rs 800 per sq.ft. However, in the 2017 revision, it decreased to Rs 536 per sq.ft, marking a decline of 33%. The most recent revision in 2023 saw the value rise to Rs 800 per sq.ft again, reflecting an increase of 49% from the 2017 figure.

When considering the overall changes from 2012 to 2023, the guideline value remains unchanged at Rs 800 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2024 for this street.

Guideline values in Nalambakkam

Currently, there are no specific guideline values provided for other streets in Nalambakkam under the Gooduvancheri SRO. Therefore, the guideline value for Vijay Avenue stands alone at Rs 800 per sq.ft.

Stamp duty and registration fee for property in Vijay Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vijay Avenue?

The Vijay Avenue property falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

When buying or selling property in Nalambakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is registered at a value that reflects the official rates set by the government.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of property transactions. Understanding these values helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Vijay Avenue?

The current guideline value of Vijay Avenue is Rs 800 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value for Vijay Avenue was Rs 800 per sq.ft in 2012, decreased to Rs 536 per sq.ft in 2017, and returned to Rs 800 per sq.ft in 2023.

Is there a guideline value for Vijay Avenue in 2024?

No, the register does not have a figure for Vijay Avenue for the year 2024.

What are the stamp duty and registration fees for a property in Vijay Avenue?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.