Guideline Value for Vijay Nagar

Vijay Nagar guideline value

The current guideline value of Vijay Nagar, located in Rathinamangalam village under the Gooduvancheri SRO, is Rs 900 per sq.ft as per the 2023 revision. The land classification for this area is Residential Special Type - I.

How the guideline value of Vijay Nagar has changed

The guideline value of Vijay Nagar has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 390 per sq.ft, which increased significantly to Rs 900 per sq.ft in the 2012 revision, marking a 131% increase. However, this value remained unchanged in the 2012 to 2017 period, where it dropped to Rs 603 per sq.ft, reflecting a decrease of 33%.

From the 2017 revision, the guideline value saw a substantial increase of 49%, rising to Rs 900 per sq.ft in the 2023 revision. Overall, from 2007 to 2023, the guideline value has increased by 131%. The register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Rathinamangalam

Currently, there are no specific village figures available for Rathinamangalam. The guideline value for Vijay Nagar is Rs 900 per sq.ft, and there are no other streets in Rathinamangalam under the Gooduvancheri SRO listed.

Stamp duty and registration fee for property in Vijay Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 900 per sq.ft, the total guideline value amounts to Rs 9,00,000. The stamp duty at 7% would be Rs 63,000, and the registration fee at 2% would be Rs 18,000. Together, the total cost for these fees would be Rs 81,000. 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 jurisdiction of 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Rathinamangalam. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the sale price is compared to the guideline value. The higher of the two figures is used to determine the applicable stamp duty and registration fees, ensuring that the government receives the correct amount based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Vijay Nagar?

The current guideline value of Vijay Nagar is Rs 900 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 390 per sq.ft in 2007 to Rs 900 per sq.ft in 2012, then decreased to Rs 603 per sq.ft in 2017, and finally returned to Rs 900 per sq.ft in 2023.

What is the land classification for Vijay Nagar?

The land classification for Vijay Nagar is Residential Special Type - I.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 900 per sq.ft, the total fees would amount to Rs 81,000.

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.