Guideline Value for Vijaya Nagar Ponniamman Koil Street

Vijaya Nagar Ponniamman Koil Street guideline value

The current guideline value of Vijaya Nagar Ponniamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Vijaya Nagar Ponniamman Koil Street has changed

The guideline value for Vijaya Nagar Ponniamman Koil Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a significant increase from Rs 1,340 per sq.ft in the 2017 revision, marking a change of +64%. Unfortunately, there are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

In summary, the guideline value has risen from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024. This increase reflects the changes in the valuation of properties in the area, although the specific values for several intervening years are not recorded.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Vijaya Nagar Ponniamman Koil Street is below this median.

• Vijay Avenue: Rs 2,200 per sq.ft (2024)
• Vignesh Avenue, Ramurthy Nagar: Rs 2,750 per sq.ft (2024)
• Vidhyasurabi School Street: Rs 2,200 per sq.ft (2024)
• Vidhya Nagar: Rs 2,750 per sq.ft (2024)
• Vishaal Nagar: Rs 2,200 per sq.ft (2024)
• Vishaal Nagar Extn: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaya Nagar Ponniamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that 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 details.

Which Sub Registrar Office covers Vijaya Nagar Ponniamman Koil Street?

The Vijaya Nagar Ponniamman Koil Street falls under 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 Madipakkam-1

The guideline value serves as a benchmark for property transactions in Madipakkam-1. When buying or selling property, this value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately with the authorities.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of property transactions. Understanding this value helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Vijaya Nagar Ponniamman Koil Street?

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

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an increase of +64%.

Are there any years without a recorded guideline value for this street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Vijaya Nagar Ponniamman Koil Street.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty at 7% is Rs 1,54,000, and the registration fee at 2% is Rs 44,000, totaling Rs 1,98,000 for these fees.

Where is the Velacheri Sub Registrar Office located?

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