Guideline Value for Vijay Nagar

Vijay Nagar guideline value

The current guideline value of Vijay Nagar, located in Mettupalayam village under the Sunguvarchattram SRO, is Rs 181 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Vijay Nagar has changed

Over the years, the guideline value of Vijay Nagar has seen several revisions. The 2012 revision set the value at Rs 180 per sq.ft. This figure then decreased by 33% to Rs 121 per sq.ft in the 2017 revision. Following this, the value increased by 50% to Rs 181 per sq.ft in the 2023 revision, which remained unchanged in the 2024 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision is a slight increase of 1%.

Guideline values in Mettupalayam

In Mettupalayam village, there are 45 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 900 per sq.ft, with a median value of Rs 181 per sq.ft. Vijay Nagar's 2024 figure aligns with this median.

• Victoria Town Part-II: Rs 200 per sq.ft (2024)
• V.G.P Vinoth Town: Rs 181 per sq.ft (2024)
• VGP Mount View: Rs 181 per sq.ft (2024)
• Venkateswara Nagar Stage - I To IV: Rs 181 per sq.ft (2024)
• Venkateshwara Nagar: Rs 181 per sq.ft (2024)
• Vasantham Gardens: Rs 181 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 181 per sq.ft, the total guideline value amounts to Rs 1,81,000. The stamp duty, calculated at 7%, would be Rs 12,670, while the registration fee at 2% would be Rs 3,620. Therefore, the total cost for stamp duty and registration would be Rs 16,290. 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 further calculations.

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, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Mettupalayam. It is used to determine the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must refer to the latest guideline value to ensure accurate calculation of these fees.

When registering a property, the guideline value is compared to the sale price. The higher value between the two is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vijay Nagar?

The current guideline value of Vijay Nagar is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 180 per sq.ft in 2012 to Rs 121 per sq.ft in 2017, then increased to Rs 181 per sq.ft in 2023 and remained the same in 2024.

What is the land classification for Vijay Nagar?

Vijay Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Vijay Nagar?

The Sub Registrar Office for Vijay Nagar is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated in Vijay Nagar?

Stamp duty in Vijay Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,81,000, the stamp duty at 7% would be Rs 12,670.