Guideline Value for Vijaya Nagar

Vijaya Nagar guideline value

The current guideline value of Vijaya Nagar, located in Orathur village under the Gooduvancheri SRO, is Rs 505 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Vijaya Nagar has changed

Over the years, the guideline value of Vijaya Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 505 per sq.ft, which is a slight increase from Rs 500 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 335 per sq.ft, marking a significant increase of 49% from the previous 2023 figure. The 2012 revision also had a value of Rs 500 per sq.ft, showing a decrease of 33% from the 2017 figure. Notably, there are no registered figures for the years 2002, 2003, and 2007 for this street.

When considering the overall changes from 2012 to 2024, the guideline value has increased by just 1%. This indicates a relatively stable value in the recent years, with the 2024 figure being above the median value of Rs 500 per sq.ft for the 80 streets in Orathur under the Gooduvancheri SRO.

Guideline values in Orathur

In Orathur, the guideline values vary across different streets, with figures ranging from Rs 335 to Rs 1,700 per sq.ft. The median value for the area is Rs 500 per sq.ft, placing Vijaya Nagar's 2024 figure above this median. Below are the guideline values for other streets in Orathur:

• Vignesh Garden Extension-I: Rs 700 per sq.ft (2024)
• Vignesh Garden Extension: Rs 700 per sq.ft (2024)
• Vignesh Garden: Rs 402 per sq.ft (2024)
• Vinayaga Nagar: Rs 505 per sq.ft (2024)
• Vinayaga Nagar Part-II: Rs 500 per sq.ft (2024)
• V.O.C. Nagar: Rs 505 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 505 per sq.ft, the total guideline value amounts to Rs 5,05,000. The stamp duty at 7% would be Rs 35,350, and the registration fee at 2% would be Rs 10,100, bringing the total charges together to Rs 45,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijaya Nagar?

The Vijaya Nagar area falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Orathur. It serves as the base value for calculating stamp duty and registration fees, ensuring that the government receives its due taxes on property sales.

When buying or selling property, the guideline value helps to establish a fair price for the transaction. It is important for both buyers and sellers to be aware of these values to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vijaya Nagar?

The current guideline value of Vijaya Nagar is Rs 505 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2023 to Rs 505 per sq.ft in 2024, showing a 1% increase. The value was Rs 335 per sq.ft in 2017, which was a 49% increase from the 2023 figure.

What is the land classification for Vijaya Nagar?

The land classification for Vijaya Nagar is Residential Special Type - III, indicating its designated use for residential purposes.

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

The Gooduvancheri Sub Registrar Office covers Vijaya Nagar and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vijaya Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 35,350 at 7%.