Guideline Value for Vijaya Nagar 5th Main Road

Vijaya Nagar 5th Main Road guideline value

The current guideline value of Vijaya Nagar 5th Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Vijaya Nagar 5th Main Road has changed

In the 2007 revision, the guideline value was Rs 2,300 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a change of +74%. The value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, when it was raised to Rs 4,400 per sq.ft, reflecting a +10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +91%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 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 guideline value is Rs 4,400 per sq.ft, which is equal to the current figure for Vijaya Nagar 5th Main Road.

• Vijaya Nagar 5th Lane: Rs 3,850 per sq.ft (2024)
• Vijayanagar 6th Cross Street: Rs 4,400 per sq.ft (2024)
• Vijaya Nagar 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Vijaya Nagar 6th Lane: Rs 3,850 per sq.ft (2024)
• Vijaya Nagar 4th Main Road: Rs 4,400 per sq.ft (2024)
• Vijaya Nagar 6th Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaya Nagar 5th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be 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 fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vijaya Nagar 5th Main Road?

The Sub Registrar Office that covers Vijaya Nagar 5th Main Road 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property 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 a property is sold, the guideline value helps in assessing the sale price for taxation purposes. Buyers should be aware that the guideline value can affect the overall costs associated with property transactions, including stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Vijaya Nagar 5th Main Road?

The current guideline value of Vijaya Nagar 5th Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,300 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of +91%.

What are the stamp duty and registration fees for property in Vijaya Nagar 5th Main Road?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Vijaya Nagar 5th Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Vijaya Nagar 5th Main Road?

Vijaya Nagar 5th Main Road is classified as Residential Class II Type - II.