Guideline Value for Vijaya Garden

Vijaya Garden guideline value

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

How the guideline value of Vijaya Garden has changed

Over the years, the guideline value of Vijaya Garden has seen significant changes. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, there was a decrease to Rs 536 per sq.ft in 2017. From 2017 to 2023, the value rose sharply to Rs 1,000 per sq.ft, and the most recent revision in 2024 has set it at Rs 1,100 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

In terms of percentage changes, the value increased by 167% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then surged by 87% from 2017 to 2023. The jump from 2023 to 2024 represents a 10% increase. 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 is below this median.

• Vijaya Garden Annexe I: Rs 1,100 per sq.ft (2024)
• Vijaya Garden Annexe II: 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

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, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijaya Garden?

The Sub Registrar Office that covers Vijaya Garden is 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 during the registration process when buying or selling property in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Vijaya Garden?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, which is an overall increase of 267%.

What are the other streets in Puzhal with guideline values?

Other streets in Puzhal include Vijaya Garden Annexe I and II at Rs 1,100 per sq.ft, Vijai Nagar at Rs 1,650 per sq.ft, and Vijiya Avenue at Rs 1,102 per sq.ft, among others.

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

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

How is stamp duty calculated for properties in Vijaya Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.