Guideline Value for Vijaya Lakshmi Nagar

Vijaya Lakshmi Nagar guideline value

The current guideline value of Vijaya Lakshmi Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vijaya Lakshmi Nagar has changed

The guideline value of Vijaya Lakshmi Nagar has seen significant changes over the years. In 2002, the value was Rs 128 per sq.ft, which increased to Rs 260 per sq.ft in 2003, marking a change of +103%. Following this, the value rose to Rs 400 per sq.ft in 2007, showing an increase of +54%. The 2012 revision brought a substantial jump to Rs 2,200 per sq.ft, reflecting a remarkable increase of +450%. Finally, the 2024 revision set the current guideline value at Rs 2,400 per sq.ft, an increase of +9% from the previous revision.

It is important to note that the register has no figures for the years 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by +1,775%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median value is Rs 2,400 per sq.ft, which matches the guideline value of Vijaya Lakshmi Nagar. Below are the guideline values for other streets in Thirumullaivoyal:

• Vijaya Lakshmi Avenue: Rs 2,700 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 Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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 Thirumullaivoyal

The guideline value is a crucial factor when registering property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair assessment of the property's worth.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory costs involved in the registration process. This ensures that both the buyer and seller comply with the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Vijaya Lakshmi Nagar?

The current guideline value of Vijaya Lakshmi Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 128 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of +1,775%.

What are the other streets in Thirumullaivoyal with their guideline values?

Other streets in Thirumullaivoyal include Vijaya Lakshmi Avenue at Rs 2,700 per sq.ft, Vignesh Nagar at Rs 1,600 per sq.ft, and others, with values ranging from Rs 1,600 to Rs 2,700 per sq.ft.

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

For a property valued at Rs 24,00,000, the stamp duty is Rs 1,68,000 and the registration fee is Rs 48,000, totaling Rs 2,16,000.

Which Sub Registrar Office covers Vijaya Lakshmi Nagar?

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