Guideline Value for Vijay Avenue

Vijay Avenue guideline value

The current guideline value of Vijay Avenue in Thalakanancherry village, under the Alandur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Vijay Avenue has changed

Over the years, the guideline value of Vijay Avenue has seen several revisions. The 2007 revision set the value at Rs 1,700 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in 2017. The 2023 revision raised it to Rs 4,000 per sq.ft, and the latest revision in 2024 has increased it further to Rs 4,400 per sq.ft. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

From 2007 to 2024, the guideline value has increased by 159%. The change from 2023 to 2024 reflects a 10% increase, while the jump from 2017 to 2023 shows a significant rise of 49%. The earlier change from 2012 to 2017 saw a decrease of 33%, and the increase from 2007 to 2012 was substantial at 135%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of Vijay Avenue is above this median.

• Vishvanathapuram: Rs 3,900 per sq.ft (2024)
• Venugopalapuram: Rs 3,900 per sq.ft (2024)
• V O C Street / Gandhi Nagar: Rs 2,800 per sq.ft (2024)
• Voltas Colony 1st Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vijay Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijay Avenue?

The Sub Registrar Office that covers Vijay Avenue is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial reference for property transactions in Thalakanancherry. It determines the minimum value at which a property can be registered, ensuring that the government receives due revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs in the property transaction process. Buyers should be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Vijay Avenue?

The current guideline value of Vijay Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 159% over the years.

What is the land classification of Vijay Avenue?

Vijay Avenue is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty rates applicable in Vijay Avenue?

The stamp duty rate for property transactions in Vijay Avenue is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vijay Avenue located?

The Sub Registrar Office for Vijay Avenue is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.