Guideline Value for Vijaya Avenue

Vijaya Avenue guideline value

The current guideline value of Vijaya Avenue, located in Soorapattu village under the Ambattur SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Vijaya Avenue has changed

The guideline value for Vijaya Avenue has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,200 per sq.ft, which is an increase from Rs 1,100 per sq.ft in 2023, reflecting a change of 9%. Prior to that, in 2017, the value was Rs 737 per sq.ft, marking a significant increase of 49% to 2023. The 2012 revision also recorded a value of Rs 1,100 per sq.ft, which was a decrease of 33% from Rs 737 per sq.ft in 2017. Overall, from 2012 to 2024, the guideline value has increased by 9%.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. This lack of data means that the changes between those years cannot be assessed.

Guideline values in Soorapattu

In Soorapattu village, there are 115 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value of Vijaya Avenue is below this median.

• Venkateswara Street: Rs 1,100 per sq.ft (2024)
• V.O.C. Street: Rs 1,100 per sq.ft (2024)
• Valluvar Nagar: Rs 1,100 per sq.ft (2024)
• Thulukanathamman Koil Street: Rs 1,700 per sq.ft (2024)
• Thulukanathaman Nagar: Rs 2,400 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,100 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 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, making the total cost Rs 1,08,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Vijaya Avenue?

The Sub Registrar Office that covers Vijaya Avenue 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 Soorapattu

The guideline value plays a crucial role in the registration process when buying or selling property in Soorapattu. It determines the amount of stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure that they comply with the legal requirements during the transaction.

Additionally, the guideline value is used by the government to assess property taxes and other related fees. It is essential for both buyers and sellers to understand how the guideline value affects their financial obligations during property transactions.

Frequently asked questions

What is the current guideline value of Vijaya Avenue?

The current guideline value of Vijaya Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2023 to Rs 1,200 per sq.ft in 2024, and from Rs 737 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2023. The overall change from 2012 to 2024 is an increase of 9%.

What is the land classification for Vijaya Avenue?

Vijaya Avenue is classified as Residential Class II Type - II according to the guideline value register.

Where is the Sub Registrar Office for Vijaya Avenue located?

The Sub Registrar Office for Vijaya Avenue is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai 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, for a plot of 1,000 sq.ft at the guideline value of Rs 12,00,000, the stamp duty would be Rs 84,000.