Guideline Value for Vijaya Lakshmi Avenue

Vijaya Lakshmi Avenue guideline value

The current guideline value of Vijaya Lakshmi Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Vijaya Lakshmi Avenue has changed

The guideline value for Vijaya Lakshmi Avenue has seen several revisions over the years. In 2002, the value was Rs 223 per sq.ft. This increased to Rs 260 per sq.ft in 2003, marking a change of +17%. The value continued to rise significantly, reaching Rs 400 per sq.ft in 2007, which represented a substantial increase of +54%. However, the value then saw a dramatic rise to Rs 2,500 per sq.ft in 2012, reflecting an increase of +525%. After this peak, the value dropped to Rs 1,675 per sq.ft in 2017, a decrease of -33%. The guideline value then increased to Rs 2,500 per sq.ft in 2023, followed by the current value of Rs 2,700 per sq.ft in 2024, which is an increase of +8%.

Overall, from 2002 to 2024, the guideline value has increased by +1111%. There are no figures available for revisions in the years not listed in the register for this street.

Guideline values in Thirumullaivoyal

Thirumullaivoyal village has a total of 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, and Vijaya Lakshmi Avenue's 2024 figure of Rs 2,700 per sq.ft is above this median.

• Vijaya Lakshmi Nagar: Rs 2,400 per sq.ft (2024)
• Vignesh Nagar: Rs 1,600 per sq.ft (2024)
• Victory Avenue: Rs 2,700 per sq.ft (2024)
• Victoria Nagar: Rs 1,600 per sq.ft (2024)
• Vinakayar Street(J.B.nagar): Rs 2,400 per sq.ft (2024)
• VGN Stafford: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaya Lakshmi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Vijaya Lakshmi Avenue?

The Sub Registrar Office that covers Vijaya Lakshmi Avenue is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thirumullaivoyal. It helps determine the minimum value at which a property can be registered. When buyers and sellers agree on a sale price, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the authorities will assess the property based on the guideline value to ensure that all taxes are accurately calculated. This ensures transparency and compliance with local regulations in property transactions.

Frequently asked questions

What is the current guideline value of Vijaya Lakshmi Avenue?

The current guideline value of Vijaya Lakshmi Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 223 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of +1111% over the years.

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

For a 1,000 sq.ft plot, the total guideline value would be Rs 27,00,000, with stamp duty at Rs 1,89,000 and registration fees at Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Vijaya Lakshmi Avenue?

The Ambattur Sub Registrar Office covers Vijaya Lakshmi Avenue, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Vijaya Lakshmi Avenue?

Vijaya Lakshmi Avenue falls under the Residential Special Type - II land classification, which is relevant for property transactions in the area.