Guideline Value for Vijaya Garden

Vijaya Garden guideline value

The current guideline value of Vijaya Garden in Saligramam village, under the Virugambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Vijaya Garden has changed

The guideline value for Vijaya Garden has seen significant changes over the years. In 2002, the value was Rs 1,286 per sq.ft, which increased to Rs 1,405 per sq.ft in 2003, marking a rise of 9%. The value then continued to rise to Rs 1,800 per sq.ft in 2007, an increase of 28%. Following this, the value jumped to Rs 4,000 per sq.ft in 2012, reflecting a substantial increase of 122%. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The guideline value then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 242%. The register has no figures for the years not mentioned above.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the guideline value for Vijaya Garden.

• Vijayaraghavapuram 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 1st Cross Street (5th Street): Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 1st Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 2nd Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 3rd Cross Street: Rs 2,750 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential component in the registration process of property transactions in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Vijaya Garden?

The current guideline value of Vijaya Garden is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,286 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 242% over the years.

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

For a 1,000 sq.ft plot, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000 based on the current guideline value.

Which office handles property registrations in Vijaya Garden?

The Virugambakkam Sub Registrar Office handles property registrations for Vijaya Garden, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration and is crucial for calculating the applicable stamp duty and registration fees during property transactions.