Guideline Value for Vijaya Lakshmi Nagar

Vijaya Lakshmi Nagar guideline value

The current guideline value of Vijaya Lakshmi Nagar, located in Puthagaram village under the Ambattur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vijaya Lakshmi Nagar has changed

The guideline value for Vijaya Lakshmi Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,600 per sq.ft, representing a 7% increase from the previous year.

It is important to note that there are no registered figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, there has been a net increase of 7% in the guideline value.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, indicating that the guideline value for Vijaya Lakshmi Nagar is below this median.

• Vijayalakshmi Nagar Extention (Balaraman Ave.): Rs 1,600 per sq.ft (2024)
• Villivakkam Road: Rs 2,200 per sq.ft (2024)
• Vinayagam Nagar: Rs 1,600 per sq.ft (2024)
• Vetri Nagar: Rs 1,600 per sq.ft (2024)
• V.O.C Nagar: Rs 1,600 per sq.ft (2024)
• Voc Nagar Annexe: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaya Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijaya Lakshmi Nagar?

The Sub Registrar Office that covers Vijaya Lakshmi Nagar 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 Puthagaram

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Puthagaram, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vijaya Lakshmi Nagar?

The current guideline value of Vijaya Lakshmi Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Vijaya Lakshmi Nagar?

Vijaya Lakshmi Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the registration fees for property in Vijaya Lakshmi Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles property registrations in Vijaya Lakshmi Nagar?

The Ambattur Sub Registrar Office is responsible for property registrations in Vijaya Lakshmi Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.