Guideline Value for Vijaya Nagar

Vijaya Nagar guideline value

The current guideline value of Vijaya Nagar, located in Sekkadu village under the Avadi Sub Registrar Office (SRO), is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Vijaya Nagar has changed

Over the years, the guideline value for Vijaya Nagar has seen several revisions. The earliest recorded figure is from 2012, where the guideline value was Rs 1,200 per sq.ft. In 2017, it dropped to Rs 804 per sq.ft, marking a decrease of 33%. However, by 2023, the guideline value rose significantly to Rs 1,200 per sq.ft, and in the latest revision for 2024, it has increased to Rs 1,320 per sq.ft, which is a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the 2012 figure to the 2024 revision, the guideline value has increased by 10%. There are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sekkadu

In Sekkadu village, there are 56 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 930 to Rs 4,800 per sq.ft. The median guideline value is Rs 1,320 per sq.ft, which is the same as the current value for Vijaya Nagar.

• Viliyanjiyambakkam Road: Rs 2,250 per sq.ft (2024)
• Vgn Bloom: Rs 2,680 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,320 per sq.ft (2024)
• Venkatesan Nagar: Rs 1,320 per sq.ft (2024)
• Varadharaja Nagar: Rs 930 per sq.ft (2024)
• Varadhapuri Amman Koil Street: Rs 1,075 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 cost for these 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijaya Nagar?

The Vijaya Nagar area falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sekkadu. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. This value is set by the government and is periodically revised to reflect changes in the real estate market.

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 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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Vijaya Nagar?

Vijaya Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

Where can I find the Avadi Sub Registrar Office?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for property in Vijaya Nagar?

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