Guideline Value for Vijay Nagar

Vijay Nagar guideline value

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

How the guideline value of Vijay Nagar has changed

Over the years, the guideline value of Vijay Nagar has experienced several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 250 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a substantial rise of 380%. However, the value then dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The guideline value remained at Rs 1,200 per sq.ft in both 2023 and 2024, showing no change between these two revisions.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 1,200 per sq.ft. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 380%.

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. The median value for these streets is Rs 1,200 per sq.ft, which is equal to the guideline value of Vijay Nagar.

• Vijay Gopal 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 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 cost for these 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.

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

Which Sub Registrar Office covers Vijay Nagar?

The Sub Registrar Office that covers Vijay Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-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 is crucial during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vijay Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 250 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then dropping to Rs 804 per sq.ft in 2017, and returning to Rs 1,200 per sq.ft in 2023 and 2024.

What are the other streets in Madambakkam with similar guideline values?

Other streets in Madambakkam with similar guideline values include Vijay Gopal Nagar, Vimal Nagar, Vignesh Avenue, and Vishnu Avenue, all at Rs 1,200 per sq.ft in 2024.

What is the registration fee for property in Vijay Nagar?

The registration fee for property in Vijay Nagar is calculated based on the guideline value. For example, for a property valued at Rs 12,00,000, the registration fee would be Rs 24,000 at 2%.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Gooduvancheri Sub Registrar Office located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.