Guideline Value for Vijaya Nagar

Vijaya Nagar guideline value

The current guideline value of Vijaya Nagar, located in Pozhichalur village under the Pammal SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Vijaya Nagar has changed

The guideline value for Vijaya Nagar has seen significant changes over the years. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 804 per sq.ft in the 2017 revision. This marked a substantial rise of 168%. Following this, the 2023 revision further increased the value to Rs 1,200 per sq.ft, reflecting a 49% increase from the previous revision. The most recent 2024 revision has set the guideline value at Rs 1,320 per sq.ft, representing a 10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2012 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value is Rs 1,320 per sq.ft, which is equal to the guideline value of Vijaya Nagar.

• Villaiyadu Vinayagar koil Street: Rs 1,100 per sq.ft (2024)
• Viman Nagar: Rs 2,200 per sq.ft (2024)
• Vinayaga Nagar: Rs 1,650 per sq.ft (2024)
• Vishnu Street: Rs 1,100 per sq.ft (2024)
• Vivekanthar Street: Rs 1,100 per sq.ft (2024)
• VOC Street (12): Rs 1,100 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees Rs 1,18,800. Please 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.

Which Sub Registrar Office covers Vijaya Nagar?

The Sub Registrar Office that covers Vijaya Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pozhichalur. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buyers and sellers agree on a sale price, the higher of the sale price or the guideline value will be used to determine the applicable duties and fees. This ensures that all transactions are conducted fairly and transparently in accordance with the established guidelines.

Frequently asked questions

What is the current guideline value of Vijaya Nagar?

The current guideline value of Vijaya Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 300 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, which is a total increase of 340% over the years.

What is the land classification for Vijaya Nagar?

The land classification for Vijaya Nagar is Residential Class I Type - II, indicating its designation for residential use.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Vijaya Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.