Guideline Value for Vijay Nagar

Vijay Nagar guideline value

The current guideline value of Vijay Nagar in Mamandoor village, under the Chengleput Joint II SRO, is Rs 800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Vijay Nagar has changed

Over the years, the guideline value for Vijay Nagar has seen several revisions. The 2007 revision set the value at Rs 50 per sq.ft, which then increased significantly to Rs 800 per sq.ft in 2012, marking a 1500% rise. In 2017, the value was adjusted to Rs 536 per sq.ft, a decrease of 33%. The 2023 revision maintained the value at Rs 800 per sq.ft, and the 2024 revision continues this figure, reflecting no change from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. The overall change from 2007 to 2024 shows an increase of 1500%, with the current guideline value remaining consistent since 2023.

Guideline values in Mamandoor

Mamandoor village has a total of 41 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 1,200 per sq.ft. The median value for these streets is Rs 500 per sq.ft, placing Vijay Nagar's current value above this median.

• Welcome City: Rs 400 per sq.ft (2024)
• Welcome City Phase -2: Rs 400 per sq.ft (2024)
• Vedha Garden: Rs 500 per sq.ft (2024)
• Varun Plats: Rs 400 per sq.ft (2024)
• Thirumalai Nagar: Rs 500 per sq.ft (2024)
• Sri Vathsa Nagar Phasei: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Vijay Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijay Nagar?

The Vijay Nagar area falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions, as it determines the amount of stamp duty and registration fees payable when buying or selling property. When registering a property, the guideline value serves as a benchmark for calculating these fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vijay Nagar?

The current guideline value of Vijay Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, with the most recent revisions being Rs 800 per sq.ft in 2023 and 2024, after a significant increase from Rs 50 per sq.ft in 2007 to Rs 800 per sq.ft in 2012.

What is the land classification for Vijay Nagar?

The land classification for Vijay Nagar is Residential Special Type - I, which indicates its designation for residential development.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Vijay Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,00,000, the stamp duty at 7% would be Rs 56,000.