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Guideline Value

Corporate

Guideline Value for Vijaya Nagar 2nd Avenue

₹4400/sq.ft.

The guideline value for Vijaya Nagar 2nd Avenue in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Vijaya Nagar 2nd Avenue

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Vijaya Nagar 2nd Avenue guideline value

The current guideline value for Vijaya Nagar 2nd Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Vijaya Nagar 2nd Avenue has changed

The guideline value for Vijaya Nagar 2nd Avenue has undergone several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then decreased to Rs 2,680 per sq.ft in the 2017 revision. This represents a decline of 33%. However, from 2017 to the 2024 revision, the guideline value increased significantly to Rs 4,400 per sq.ft, marking a rise of 64%.

Overall, comparing the 2012 revision to the current 2024 figure, there has been a modest increase of 10%. It is important to note that the guideline register does not have figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Vijaya Nagar 2nd Avenue.

Stamp duty and registration fee for property in Vijaya Nagar 2nd Avenue

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000 and the registration fee at 2% would be Rs 88,000, making the total Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vijaya Nagar 2nd Avenue?

The Sub Registrar Office that covers Vijaya Nagar 2nd Avenue is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vijaya Nagar 2nd Avenue?

The current guideline value of Vijaya Nagar 2nd Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,400 per sq.ft in 2024. There is no figure available for the years 2002, 2003, 2007, and 2023.

What is the stamp duty rate for property in Vijaya Nagar 2nd Avenue?

The stamp duty rate for property in Vijaya Nagar 2nd Avenue is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vijaya Nagar 2nd Avenue?

The Sub Registrar Office for Vijaya Nagar 2nd Avenue is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value determined for properties in Velachery?

The guideline value for properties in Velachery is determined based on various factors, including land classification and market conditions. It is revised periodically to reflect current property values.