Guideline Value for Vijaya Nagar Extension

Vijaya Nagar Extension guideline value

The current guideline value of Vijaya Nagar Extension is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Vijaya Nagar Extension has changed

The guideline value for Vijaya Nagar Extension has seen several revisions over the years. In 2003, the guideline value was Rs 267 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2007. Following that, the value rose to Rs 2,000 per sq.ft in 2012, but then dropped to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, before reaching the current rate of Rs 2,200 per sq.ft in 2024. There is no figure available for the year 2002 in the register for this street.

Examining the changes, from 2003 to 2007, there was an increase of +162%. However, from 2012 to 2017, the value decreased by -33%. The value then experienced a significant increase of +49% from 2017 to 2023, followed by a further increase of +10% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by +724%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Vijaya Nagar Extension is below this median.

• Vijaya Nagar: Rs 2,200 per sq.ft (2024)
• Vijaya Lakshmi Nagar Extension: Rs 2,200 per sq.ft (2024)
• Vijaya Lakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Vinayagar Colony: Rs 2,700 per sq.ft (2024)
• Vinayagar Koil Street: Rs 2,200 per sq.ft (2024)
• Vinobaba Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaya Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijaya Nagar Extension?

The Vijaya Nagar Extension area is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial element in the property registration process in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded at a price that reflects the current market conditions as per government regulations.

In addition, the guideline value is used to calculate the stamp duty and registration fees that are payable during the property registration process. This ensures that both the buyer and seller are compliant with the legal requirements for property transactions in the area.

Frequently asked questions

What is the current guideline value of Vijaya Nagar Extension?

The current guideline value of Vijaya Nagar Extension is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 267 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of +724% over the years.

What is the stamp duty for property in Vijaya Nagar Extension?

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

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How many streets in Kolathur have a guideline value?

There are 879 streets in Kolathur under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft.