Guideline Value for Vijayaganapathi nagar 2nd Street

Vijayaganapathi nagar 2nd Street guideline value

The current guideline value of Vijayaganapathi nagar 2nd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vijayaganapathi nagar 2nd Street has changed

In the 2012 revision, the guideline value for Vijayaganapathi nagar 2nd Street was Rs 2,500 per sq.ft. This value decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, in the 2023 revision, the guideline value increased significantly to Rs 2,500 per sq.ft, followed by a rise to Rs 2,800 per sq.ft in the 2024 revision, reflecting a 12% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has risen by 12%.

Guideline values in Ullagaram

Ullagaram has a total of 298 streets under the Alandur SRO, with guideline values ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,800 per sq.ft, which is equal to the current guideline value of Vijayaganapathi nagar 2nd Street.

• Vijaya Ganapathi nagar1st Street: Rs 2,800 per sq.ft (2024)
• Vijayaganapathi nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Vijaya Ganapathi Koil Street Main: Rs 2,800 per sq.ft (2024)
• Vidhya Nagar: Rs 2,800 per sq.ft (2024)
• Vikneshwara Nagar Cross Street: Rs 2,800 per sq.ft (2024)
• Vikneshwarar 1st Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayaganapathi nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total cost for these fees Rs 2,52,000. It is important to 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 to estimate these costs for your property.

Which Sub Registrar Office covers Vijayaganapathi nagar 2nd Street?

The Vijayaganapathi nagar 2nd Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor during property registration in Ullagaram. It serves as a benchmark for determining the minimum value of properties, ensuring that transactions are recorded at a fair value as per the government regulations.

When buying or selling property, the guideline value influences the stamp duty and registration fees applicable. Buyers must be aware of these values to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Vijayaganapathi nagar 2nd Street?

The current guideline value of Vijayaganapathi nagar 2nd Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Vijayaganapathi nagar 2nd Street?

Vijayaganapathi nagar 2nd Street is classified as Residential Class II Type - I.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Vijayaganapathi nagar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 28,00,000, the stamp duty at 7% would be Rs 1,96,000.