Guideline Value

Corporate

Guideline Value for Vijaya Nagar Extn.

₹4950/sq.ft.

The guideline value for Vijaya Nagar Extn. in Velachery village (Velacheri SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹4950 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹3015 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2000 /sq.ft.
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 Extn.

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Vijaya Nagar Extn. guideline value

The current guideline value of Vijaya Nagar Extn. is Rs 4,950 per sq.ft, effective from 1 July 2024. This area is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vijaya Nagar Extn. has changed

The guideline value for Vijaya Nagar Extn. has seen several revisions over the years. In 2007, the guideline value was Rs 2,000 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a 125% rise. However, by 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 4,950 per sq.ft, which is an increase of 64% from 2017.

Overall, from 2007 to 2024, the guideline value has increased by 148%. It is important to note that there are no figures available for the revisions in 2023, 2003, and 2002 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Vijaya Nagar Extn.'s 2024 figure above this median.

Stamp duty and registration fee for property in Vijaya Nagar Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total fees together to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vijaya Nagar Extn.?

The Sub Registrar Office that covers Vijaya Nagar Extn. 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 details.

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

The guideline value is a crucial factor during the registration of property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value helps establish the minimum value on which stamp duty is calculated. This ensures that the transaction is recorded at a value that reflects the prevailing market conditions as per the government regulations.

Frequently asked questions

What is the current guideline value of Vijaya Nagar Extn.?

The current guideline value of Vijaya Nagar Extn. is Rs 4,950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 2,000 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 148% over the years.

What are the stamp duty and registration fees for property in Vijaya Nagar Extn.?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which office handles property registrations in Vijaya Nagar Extn.?

The Velacheri Sub Registrar Office handles property registrations in Vijaya Nagar Extn., located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the property is registered at a value that reflects government regulations.