Guideline Value for Vijaya Nagar 4th Street

Vijaya Nagar 4th Street guideline value

The current guideline value of Vijaya Nagar 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vijaya Nagar 4th Street has changed

The guideline value for Vijaya Nagar 4th Street has undergone several revisions over the years. In 2002, the value was Rs 270 per sq.ft, which increased to Rs 294 per sq.ft in 2003, marking a 9% rise. The value saw a significant jump to Rs 500 per sq.ft in 2007, representing a 70% increase. By 2012, the value rose dramatically to Rs 3,500 per sq.ft, a 600% increase from the previous revision. However, in 2017, it decreased to Rs 2,345 per sq.ft, a decline of 33%.

The latest revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting a 64% increase from 2017. Overall, from 2002 to 2024, the guideline value has increased by 1326%. It is important to note that the register has no figure for the year 2023 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which is equal to the guideline value of Vijaya Nagar 4th Street.

• Vijaya Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Vijaya Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Vijaya Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Vijaya Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Vijaya Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Vishalatchi Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaya Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that the 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 Nagar 4th Street?

The Vijaya Nagar 4th Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Valasaravakkam. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps establish a baseline for the transaction price. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Vijaya Nagar 4th Street?

The current guideline value of Vijaya Nagar 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 270 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1326% over the years.

What is the registration fee for property in Vijaya Nagar 4th Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 38,50,000, the registration fee would be Rs 77,000.

Which office handles property registrations for Vijaya Nagar 4th Street?

The Virugambakkam Sub Registrar Office handles property registrations for Vijaya Nagar 4th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Valasaravakkam?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.