Guideline Value for Vijaya Garden

Vijaya Garden guideline value

The current guideline value of Vijaya Garden, located in Vijayanallur village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Vijaya Garden has changed

The guideline value for Vijaya Garden has undergone several revisions over the years. Starting from Rs 143 per sq.ft in 2002, it increased to Rs 16 per sq.ft in 2003, which was a decrease. The value then rose significantly to Rs 200 per sq.ft in 2007, marking an increase of 1,150%. In 2012, it was recorded at Rs 400 per sq.ft, showing a 100% increase from the previous revision. However, the value decreased to Rs 268 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 400 per sq.ft in 2023, followed by a further increase to the current rate of Rs 440 per sq.ft in 2024, which is a 10% rise.

There are no figures available for the years between these revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by 208%.

Guideline values in Vijayanallur

In Vijayanallur, there are 19 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 540 per sq.ft. The guideline value for Vijaya Garden is below this median.

• Vivekananadar Nagar Annex-1: Rs 550 per sq.ft (2024)
• Varthaman Nagar: Rs 440 per sq.ft (2024)
• Vardhaman Nagar Extension: Rs 440 per sq.ft (2024)
• Tata Nagar Extn.: Rs 550 per sq.ft (2024)
• Tata Nagar: Rs 550 per sq.ft (2024)
• Sri Sai Garden: Rs 440 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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty, charged at 7%, would amount to Rs 30,800, and the registration fee, at 2%, would be Rs 8,800. Together, the total cost for stamp duty and registration would be Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijaya Garden?

The Sub Registrar Office covering 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vijayanallur. It is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are compliant with local regulations.

When a property is sold, the guideline value is referenced to calculate the fees, and it is important for both buyers and sellers to be aware of these values. This ensures transparency in property transactions and helps in avoiding disputes related to property valuation.

Frequently asked questions

What is the current guideline value of Vijaya Garden?

The current guideline value of Vijaya Garden is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 143 per sq.ft in 2002 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 208% over this period.

What are the stamp duty and registration fees for property in Vijaya Garden?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office is responsible for Vijaya Garden?

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

What is the land classification for Vijaya Garden?

Vijaya Garden is classified as Residential Class III Type - I, indicating its suitability for residential development.