Guideline Value for Vijaya Nagar

Vijaya Nagar guideline value

The current guideline value of Vijaya Nagar, located in Nariyampakkam village, under the Sriperumpudur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Vijaya Nagar has changed

The guideline value for Vijaya Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 40 per sq.ft. This value increased significantly by 525% to Rs 250 per sq.ft in 2012. However, in the subsequent revision in 2017, the value decreased by 33% to Rs 167 per sq.ft. The value remained stable at Rs 250 per sq.ft in both 2012 and 2023, and there was no change from 2023 to 2024, maintaining the rate at Rs 250 per sq.ft.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 525%.

Guideline values in Nariyampakkam

Nariyampakkam has a total of 17 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft, with the median being Rs 250 per sq.ft. Vijaya Nagar's 2024 figure aligns with this median value.

• Vijaya Nagar Extn: 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

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, bringing the total cost for stamp duty and registration fees to Rs 22,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can 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 Nariyampakkam

The guideline value plays a crucial role during the registration process of property transactions in Nariyampakkam. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value according to government standards. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Vijaya Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 40 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then decreased to Rs 167 per sq.ft in 2017, and has remained at Rs 250 per sq.ft since 2012.

What is the registration office for Vijaya Nagar?

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

How is 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, for a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 at a rate of 7%.

Are there other streets with guideline values in Nariyampakkam?

Yes, there are other streets in Nariyampakkam with guideline values ranging from Rs 250 to Rs 600 per sq.ft, with Vijaya Nagar's value being Rs 250 per sq.ft in 2024.