Guideline Value for Vijayaganapathi nagar 3rd Street

Vijayaganapathi nagar 3rd Street guideline value

The current guideline value of Vijayaganapathi nagar 3rd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vijayaganapathi nagar 3rd Street has changed

The guideline value for Vijayaganapathi nagar 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and then rose to Rs 2,800 per sq.ft in the 2024 revision, marking a 12% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 12%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ullagaram

In Ullagaram, there are 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 for these streets is Rs 2,800 per sq.ft, which matches the current guideline value of Vijayaganapathi nagar 3rd Street.

• Vijayaganapathi nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Vijaya Ganapathi nagar1st 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 3rd 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, bringing the total cost for these fees to 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 for more detailed calculations based on your specific property.

Which Sub Registrar Office covers Vijayaganapathi nagar 3rd Street?

The Vijayaganapathi nagar 3rd Street falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vijayaganapathi nagar 3rd Street?

The current guideline value of Vijayaganapathi nagar 3rd 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 2023 to Rs 2,800 per sq.ft in 2024, a 12% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing a significant increase over the years.

What is the land classification of Vijayaganapathi nagar 3rd Street?

The land classification for Vijayaganapathi nagar 3rd Street is Residential Class II Type - I.

Where is the Alandur Sub Registrar Office located?

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 this area?

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.