Guideline Value for Vijaya Ganapathi nagar1st Street

Vijaya Ganapathi nagar1st Street guideline value

The current guideline value of Vijaya Ganapathi nagar1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vijaya Ganapathi nagar1st Street has changed

The guideline value for Vijaya Ganapathi nagar1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value increased to Rs 2,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,800 per sq.ft in the 2024 revision, reflecting a 12% rise from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 12%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value for Vijaya Ganapathi nagar1st Street matches this median value.

• Vijaya Ganapathi Koil Street Main: Rs 2,800 per sq.ft (2024)
• Vijayaganapathi nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Vijayaganapathi nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Vidhya Nagar: Rs 2,800 per sq.ft (2024)
• Vikneshwara Nagar Cross Street: Rs 2,800 per sq.ft (2024)
• Vikneshwarar 1st Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaya Ganapathi nagar1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. 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 information on fees.

Which Sub Registrar Office covers Vijaya Ganapathi nagar1st Street?

The Vijaya Ganapathi nagar1st Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more details, you can find your SRO.

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

When buying or selling property in Ullagaram, the guideline value is crucial as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

This ensures that the registration process is transparent and that the government receives the appropriate revenue from property transactions. It is advisable for buyers to verify the current guideline values before proceeding with any property transactions.

Frequently asked questions

What is the current guideline value of Vijaya Ganapathi nagar1st Street?

The current guideline value of Vijaya Ganapathi nagar1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Vijaya Ganapathi nagar1st Street is Residential Class II Type - I.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,800 per sq.ft, the total fees would amount to Rs 2,52,000.