Guideline Value for Vijaya Nagar Extn

Vijaya Nagar Extn guideline value

The current guideline value of Vijaya Nagar Extn in Nariyampakkam village is Rs 250 per sq.ft, effective from 1 July 2024. This property falls under the Sriperumpudur SRO and is classified as Residential Class I 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. The register shows that in 2012, the guideline value was Rs 250 per sq.ft, which remained unchanged until 2017 when it dropped to Rs 167 per sq.ft. However, from 2017 to 2023, the value increased by 50%, returning to Rs 250 per sq.ft. The current revision for 2024 maintains this figure, showing no change from the previous year.

Notably, the revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street. Overall, from 2012 to 2024, the guideline value has remained stable, with no increase or decrease.

Guideline values in Nariyampakkam

In Nariyampakkam, there are 17 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft. The median value is Rs 250 per sq.ft, which is the same as the guideline value for Vijaya Nagar Extn.

• Vijaya Nagar: Rs 250 per sq.ft (2024)
• Yuvasree Nagar: Rs 500 per sq.ft (2024)
• Thangam Nagar: Rs 250 per sq.ft (2024)
• Sri Ragavendra Garden: Rs 250 per sq.ft (2024)
• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• S.M. Nagar: Rs 400 per sq.ft (2024)

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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, resulting in a total of Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Vijaya Nagar Extn?

The Vijaya Nagar Extn falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Nariyampakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value for calculating stamp duty and registration fees during the sale process.

When a property is sold, the guideline value serves as a benchmark for the transaction, ensuring that the sale price is reflective of the current market standards. This helps in maintaining transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Vijaya Nagar Extn?

The current guideline value of Vijaya Nagar Extn is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since 2012, with a drop to Rs 167 per sq.ft in 2017, followed by a return to Rs 250 per sq.ft in 2023. The value for 2024 is also Rs 250 per sq.ft.

What is the land classification for Vijaya Nagar Extn?

Vijaya Nagar Extn is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Vijaya Nagar Extn?

The Sub Registrar Office covering Vijaya Nagar Extn is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 2,50,000, the stamp duty at 7% would be Rs 17,500.