Guideline Value for Vijaya Lakshmi Nagar

Vijaya Lakshmi Nagar guideline value

The current guideline value of Vijaya Lakshmi Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Atthivakkam village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Vijaya Lakshmi Nagar has changed

The guideline value for Vijaya Lakshmi Nagar has undergone several revisions over the years. The earliest recorded revision is from 2017, where the value was Rs 201 per sq.ft. This increased to Rs 300 per sq.ft in 2023, reflecting a significant rise of 49%. The most recent revision in 2024 set the value at Rs 330 per sq.ft, marking a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Atthivakkam

In Atthivakkam, there are 27 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 1,400 per sq.ft. The median value for these streets is Rs 440 per sq.ft, indicating that the guideline value for Vijaya Lakshmi Nagar is below this median.

• Venkateswara Nagar: Rs 330 per sq.ft (2024)
• Y.S.Aveune: Rs 1,000 per sq.ft (2024)
• Thirupathi Nagar: Rs 275 per sq.ft (2024)
• Sun City: Rs 1,045 per sq.ft (2024)
• Sri Sathiya Narayana Garden: Rs 275 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 330 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 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty is charged at 7%, which totals Rs 23,100, and the registration fee is charged at 2%, amounting to Rs 6,600. Together, these fees total Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Atthivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to accurately calculate the costs involved in the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to assess the stamp duty and registration fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Vijaya Lakshmi Nagar?

The current guideline value of Vijaya Lakshmi Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2017 to Rs 330 per sq.ft in 2024, representing an overall increase of 64% over this period.

What are the other streets in Atthivakkam with guideline values?

Other streets in Atthivakkam include Venkateswara Nagar at Rs 330 per sq.ft, Y.S.Aveune at Rs 1,000 per sq.ft, Thirupathi Nagar at Rs 275 per sq.ft, Sun City at Rs 1,045 per sq.ft, Sri Sathiya Narayana Garden at Rs 275 per sq.ft, and Sri Dhanalakshmi Nagar at Rs 330 per sq.ft.

What fees are associated with property transactions in Vijaya Lakshmi Nagar?

When buying property in Vijaya Lakshmi Nagar, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vijaya Lakshmi Nagar?

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