Guideline Value for Vijaya Avenue

Vijaya Avenue guideline value

The current guideline value of Vijaya Avenue is Rs 1,500 per sq.ft, as per the 2023 revision. This street is located in Urapakkam village under the Gooduvancheri SRO, classified as Residential Special Type - II.

How the guideline value of Vijaya Avenue has changed

Over the years, the guideline value of Vijaya Avenue has seen several revisions. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a 200% rise. However, this value remained unchanged until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft, reflecting a drop of 33%. The most recent revision in 2023 brought the guideline value back up to Rs 1,500 per sq.ft, resulting in a 49% increase from the 2017 figure.

From the 2007 revision to the 2023 revision, the overall change in guideline value is a substantial 200%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 for this street.

Guideline values in Urapakkam

Currently, there are no specific guideline values available for other streets in Urapakkam. The guideline value of Vijaya Avenue stands at Rs 1,500 per sq.ft.

Stamp duty and registration fee for property in Vijaya Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost for these fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijaya Avenue?

The Sub Registrar Office that covers Vijaya Avenue is 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Urapakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the correct amount is paid to the government during the registration process.

Frequently asked questions

What is the current guideline value of Vijaya Avenue?

The current guideline value of Vijaya Avenue is Rs 1,500 per sq.ft, as per the 2023 revision.

How much has the guideline value changed over the years?

The guideline value has changed significantly, with a 200% increase from Rs 500 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, followed by a decrease to Rs 1,005 per sq.ft in 2017, and then back to Rs 1,500 per sq.ft in 2023.

What are the stamp duty and registration fees for property in Vijaya Avenue?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Vijaya Avenue?

The Gooduvancheri Sub Registrar Office covers Vijaya Avenue, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Are there any other streets in Urapakkam with guideline values?

Currently, there are no specific guideline values available for other streets in Urapakkam. The guideline value for Vijaya Avenue is Rs 1,500 per sq.ft.