Guideline Value for Vijaya Avenue

Vijaya Avenue guideline value

The current guideline value of Vijaya Avenue is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Ponthoor village under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Vijaya Avenue has changed

The guideline value for Vijaya Avenue has undergone several revisions over the years. The earliest recorded figure is from 2007, set at Rs 70 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, followed by a decrease to Rs 201 per sq.ft in 2017. The subsequent revisions in 2023 and 2024 maintained the guideline value at Rs 300 per sq.ft, indicating no change from the previous year.

From 2007 to 2024, the overall increase in the guideline value is 329%. Specifically, the change from 2012 to 2017 was a decrease of 33%, while the increase from 2017 to 2023 was 49%. Notably, there are no recorded figures for Vijaya Avenue in the revisions of 2002 and 2003.

Guideline values in Ponthoor

In Ponthoor village, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,239 per sq.ft. The median value among these streets is Rs 300 per sq.ft, which aligns with the guideline value of Vijaya Avenue.

• Vijayalakshmi Nagar: Rs 402 per sq.ft (2024)
• Vijayalakshmi Nagar Part - I: Rs 402 per sq.ft (2024)
• Vijayalakshmi Town: Rs 402 per sq.ft (2024)
• Vinayaga nagar: Rs 300 per sq.ft (2024)
• Vetchi Poo Street: Rs 300 per sq.ft (2024)
• Viswasanthi Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaya Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijaya Avenue?

The Sub Registrar Office that covers Vijaya Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Ponthoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the government receives the correct revenue from property transactions. Buyers and sellers should be aware of the guideline value to understand their financial obligations 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 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent changes showing a consistent value of Rs 300 per sq.ft since 2012, except for a decrease to Rs 201 per sq.ft in 2017.

What is the land classification for Vijaya Avenue?

Vijaya Avenue is classified as Residential Class III Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Vijaya Avenue?

The Sub Registrar Office for Vijaya Avenue is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vijaya Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 3,00,000, the stamp duty at 7% would be Rs 21,000.