Guideline Value for Vijay Nagar

Vijay Nagar guideline value

The current guideline value of Vijay Nagar, located in Koozhangacheri village under the Sunguvarchattram SRO, is Rs 226 per sq.ft. This value is effective from the 2024 revision, which will take effect on 1 July 2024. The land classification for this area is Residential Class II 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 2012 revision set the value at Rs 225 per sq.ft, which was followed by a decrease to Rs 151 per sq.ft in the 2017 revision, marking a 33% decline. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 226 per sq.ft, a figure that remained unchanged in the 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 226 per sq.ft.

Guideline values in Koozhangacheri

Koozhangacheri village has a total of 47 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,200 per sq.ft. The median value across these streets is Rs 226 per sq.ft, which aligns with the current guideline value of Vijay Nagar.

• Vinayaga Nagar: Rs 226 per sq.ft (2024)
• Vettri Nagar: Rs 200 per sq.ft (2024)
• Vetri Nagar Part-II: Rs 200 per sq.ft (2024)
• Veera Nagar: Rs 226 per sq.ft (2024)
• Vasantham Nagar: Rs 200 per sq.ft (2024)
• Vasantha Garden: Rs 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 226 per sq.ft, the total guideline value would be Rs 2,26,000. The stamp duty at 7% would amount to Rs 15,820, and the registration fee at 2% would be Rs 4,520, making the total cost for these fees Rs 20,340. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijay Nagar?

The Vijay Nagar area is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Koozhangacheri. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation set by the government.

When a property transaction occurs, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and fairness in property dealings, as the guideline value reflects the official valuation of the property in that area.

Frequently asked questions

What is the current guideline value of Vijay Nagar?

The current guideline value of Vijay Nagar is Rs 226 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained unchanged at Rs 226 per sq.ft from 2023 to 2024. It increased from Rs 151 per sq.ft in 2017 to Rs 226 per sq.ft in 2023, while it was Rs 225 per sq.ft in 2012.

What is the land classification for Vijay Nagar?

The land classification for Vijay Nagar is Residential Class II Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 2,26,000, the stamp duty would be Rs 15,820, and the registration fee would be Rs 4,520, totaling Rs 20,340. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vijay Nagar located?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone, handling all registrations for Vijay Nagar.