Guideline Value for Vijaya Garden Annexe II

Vijaya Garden Annexe II guideline value

The current guideline value of Vijaya Garden Annexe II is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Vijaya Garden Annexe II has changed

The guideline value for Vijaya Garden Annexe II has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 300 per sq.ft. This increased to Rs 800 per sq.ft in 2012, a rise of 167%. However, from 2012 to 2017, the value decreased to Rs 536 per sq.ft, reflecting a decline of 33%. The value then saw a significant increase to Rs 1,000 per sq.ft in 2023, which was an 87% increase from the previous revision. The latest revision in 2024 set the guideline value at Rs 1,100 per sq.ft, marking a 10% increase from 2023.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,102 per sq.ft. The guideline value for Vijaya Garden Annexe II is below this median.

• Vijaya Garden Annexe I: Rs 1,100 per sq.ft (2024)
• Vijaya Garden: Rs 1,100 per sq.ft (2024)
• Vijai Nagar: Rs 1,650 per sq.ft (2024)
• Vijiya Avenue: Rs 1,102 per sq.ft (2024)
• Vinayagar Koil Street: Rs 1,650 per sq.ft (2024)
• Vionayagar Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaya Garden Annexe II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total charges Rs 99,000. 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 details.

Which Sub Registrar Office covers Vijaya Garden Annexe II?

The Vijaya Garden Annexe II area falls under the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable duties. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Vijaya Garden Annexe II?

The current guideline value of Vijaya Garden Annexe II is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Vijaya Garden Annexe II?

The Redhills Sub Registrar Office handles registrations for Vijaya Garden Annexe II, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Vijaya Garden Annexe II?

Vijaya Garden Annexe II is classified as Residential Class II Type - I, which indicates its designation for residential use.