Guideline Value for Vijay Gopal Nagar

Vijay Gopal Nagar guideline value

The current guideline value of Vijay Gopal Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This locality is situated in Madambakkam village and falls under the Gooduvancheri SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Vijay Gopal Nagar has changed

The guideline value for Vijay Gopal Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. However, in the 2017 revision, it decreased to Rs 804 per sq.ft, marking a decline of 33%. The following revisions saw a significant increase, with the 2023 revision returning to Rs 1,200 per sq.ft, and the 2024 revision maintaining this figure, reflecting a 0% change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, when comparing the 2012 revision to the 2024 revision, the guideline value remains unchanged at Rs 1,200 per sq.ft. There are no figures available for the revisions from 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. The guideline value for Vijay Gopal Nagar aligns with this median.

• Vijay Nagar: Rs 1,200 per sq.ft (2024)
• Vimala nagar: Rs 800 per sq.ft (2024)
• Vimal Nagar: Rs 1,200 per sq.ft (2024)
• Vignesh Avenue Extn: Rs 1,200 per sq.ft (2024)
• Vignesh Avenue: Rs 1,200 per sq.ft (2024)
• Vishnu Avenue: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vijay Gopal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total fees to Rs 1,08,000. It is important to note that the 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 Vijay Gopal Nagar?

The Sub Registrar Office that covers Vijay Gopal Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This value is essential for both buyers and sellers to understand, as it directly impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Vijay Gopal Nagar?

The current guideline value of Vijay Gopal Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the 2012 revision at Rs 1,200 per sq.ft, dropping to Rs 804 per sq.ft in 2017, and then returning to Rs 1,200 per sq.ft in 2023 and 2024.

What is the land classification for Vijay Gopal Nagar?

The land classification for Vijay Gopal Nagar is Commercial Special Type - I, indicating its designated use for commercial purposes.

Where can I find the Gooduvancheri Sub Registrar Office?

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

How is stamp duty calculated for properties in Vijay Gopal Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,200 per sq.ft, the stamp duty would be Rs 84,000.