Guideline Value for Vijay Nagar

Vijay Nagar guideline value

The current guideline value of Vijay Nagar in Oragadam village, under the Ambattur SRO, is Rs 1,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Vijay Nagar has changed

The guideline value for Vijay Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a 225% rise. However, it then decreased to Rs 871 per sq.ft in 2017, which was a decline of 33%. The value further increased to Rs 1,300 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 1,400 per sq.ft, reflecting an 8% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2007 to 2024, the guideline value has increased by 250%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value for Vijay Nagar is below this median.

• Vijayaraghavachari Street: Rs 2,400 per sq.ft (2024)
• Vijayalakshmipuram Main Road: Rs 2,400 per sq.ft (2024)
• Vinayagapuram Main road: Rs 2,400 per sq.ft (2024)
• Vishwanathan Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Vivekanandha Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Vivekanantha Street (Venkateswara Nagar): Rs 1,600 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 1,400 per sq.ft, the total guideline value is Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. It is important to note that 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 Sub Registrar Office that covers Vijay Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Oragadam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that both the government and the buyer are protected in the transaction.

Frequently asked questions

What is the current guideline value of Vijay Nagar?

The current guideline value of Vijay Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, marking an overall increase of 250% over the years.

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

The stamp duty is charged at 7%, and the registration fee is at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees amount to Rs 1,26,000.

Which Sub Registrar Office covers Vijay Nagar?

The Ambattur Sub Registrar Office covers Vijay Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Vijay Nagar?

Vijay Nagar is classified as Residential Class III Type - I, which indicates its intended use for residential purposes.