Guideline Value for Vijay Street

Vijay Street guideline value

The current guideline value of Vijay Street, located in Kodungaiyur village under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Vijay Street has changed

The guideline value for Vijay Street has undergone changes over the years. In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This represents an increase of 8% to the current value of Rs 2,700 per sq.ft as per the 2024 revision.

It is important to note that there are no figures available for the revisions in the years 2023, 2017, 2007, 2003, and 2002. Therefore, the only revisions that reflect a value for Vijay Street are from 2012 and 2024.

Guideline values in Kodungaiyur

In Kodungaiyur, there are a total of 1,318 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the guideline value of Vijay Street.

• Vijay Nagar: Rs 2,700 per sq.ft (2024)
• Visalakshi 1st Street: Rs 2,200 per sq.ft (2024)
• Visalakshi Street: Rs 2,200 per sq.ft (2024)
• Vivekananda 1st Street: Rs 2,700 per sq.ft (2024)
• Vivekananda 2nd Street: Rs 2,700 per sq.ft (2024)
• Vivekanandar Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vijay Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vijay Street?

The Sub Registrar Office that covers Vijay Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with legal requirements. The fees are calculated based on the higher of the guideline value or the agreed sale price, ensuring that the transaction is appropriately documented and registered.

Frequently asked questions

What is the current guideline value of Vijay Street?

The current guideline value of Vijay Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Vijay Street was Rs 2,500 per sq.ft in 2012, which increased to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase. There are no figures available for the revisions in the years 2023, 2017, 2007, 2003, and 2002.

What is the land classification of Vijay Street?

Vijay Street is classified as Residential Class I Type - I. This classification indicates the type of development and usage permitted in the area.

What are the stamp duty and registration fees for property on Vijay Street?

For a property measuring 1,000 sq.ft at the current guideline value, the total guideline value would be Rs 27,00,000. The stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Vijay Street?

The Madhavaram Sub Registrar Office handles registrations for Vijay Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.