Guideline Value for Vijaya Nagar

Vijaya Nagar guideline value

The current guideline value of Vijaya Nagar, located in Azhakoor village under the Sriperumpudur SRO, is Rs 300 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is New House Site Type -III (Approved Lay-Out).

How the guideline value of Vijaya Nagar has changed

In the 2012 revision, the guideline value was set at Rs 300 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 201 per sq.ft, marking a decline of 33%. However, from 2017 to the 2023 revision, the value increased significantly by 49%, bringing it back to Rs 300 per sq.ft. The 2024 revision has maintained this value at Rs 300 per sq.ft, indicating no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the only revisions available for Vijaya Nagar are from 2012, 2017, 2023, and 2024.

Guideline values in Azhakoor

Azhakoor village features 18 streets under the Sriperumpudur SRO, with 2024 guideline values ranging from Rs 100 to Rs 350 per sq.ft. The median value across these streets is Rs 225 per sq.ft, placing Vijaya Nagar's 2024 figure above this median.

• Vishnu Nagar: Rs 100 per sq.ft (2024)
• Venkateswara Nagar: Rs 200 per sq.ft (2024)
• Sri Sundararaja Perumal City: Rs 200 per sq.ft (2024)
• Sri Selva Vingnesh Nagar: Rs 300 per sq.ft (2024)
• Sriradi Sai Nagar: Rs 300 per sq.ft (2024)
• Srimathi Sankar Nagar: Rs 200 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the 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 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 Azhakoor

The guideline value is a crucial factor in the registration process when buying or selling property in Azhakoor. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately according to the prevailing rates.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vijaya Nagar?

The current guideline value of Vijaya Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent being Rs 300 per sq.ft in 2024, unchanged from 2023. It decreased to Rs 201 per sq.ft in 2017 from Rs 300 per sq.ft in 2012.

What is the median guideline value in Azhakoor?

The median guideline value in Azhakoor is Rs 225 per sq.ft, with Vijaya Nagar's current value being above this median.

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

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Where is the Sub Registrar Office for Vijaya Nagar located?

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