Guideline Value for Vijayaganapathy Street

Vijayaganapathy Street guideline value

The current guideline value of Vijayaganapathy Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village under the Tambaram Joint 1 SRO, classified as Residential Class II Type - I.

How the guideline value of Vijayaganapathy Street has changed

Over the years, the guideline value of Vijayaganapathy Street has seen several revisions. The 2007 revision set the value at Rs 500 per sq.ft, which increased to Rs 800 per sq.ft in 2012, marking a 60% rise. However, between 2012 and 2017, the value decreased by 33% to Rs 536 per sq.ft. The subsequent revision in 2023 raised it to Rs 800 per sq.ft, and the latest revision in 2024 has increased it further to Rs 880 per sq.ft, reflecting a 10% rise from the previous year. The register has no figures for the years 2002 and 2003.

From 2007 to 2024, the overall increase in the guideline value is 76%. The value jumped significantly from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, showcasing a 49% increase over that period. Each revision illustrates the fluctuations in the guideline value, influenced by various factors.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO with 2024 guideline values ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Vijayaganapathy Street's 2024 figure below that median.

• Vijayarengan Street: Rs 2,530 per sq.ft (2024)
• Vivakanantha Street: Rs 2,530 per sq.ft (2024)
• Vivekanandan Street (Vallalar Street): Rs 2,530 per sq.ft (2024)
• Viyasar Street: Rs 1,320 per sq.ft (2024)
• Vvs Iyer Street: Rs 2,530 per sq.ft (2024)
• Yamuna Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayaganapathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. 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 accurate calculations.

Which Sub Registrar Office covers Vijayaganapathy Street?

The Vijayaganapathy Street falls under the jurisdiction of the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further details.

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

The guideline value is a crucial factor when registering property in Irumpuliyur. It serves as the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers must consider this value as it directly impacts the overall cost of the transaction.

When purchasing property, the guideline value helps determine the financial obligations related to registration. It acts as a benchmark for property transactions, ensuring transparency and fairness in the process. Understanding the guideline value is essential for both buyers and sellers to navigate the real estate market effectively.

Frequently asked questions

What is the current guideline value of Vijayaganapathy Street?

The current guideline value of Vijayaganapathy Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 76% over this period.

What is the land classification of Vijayaganapathy Street?

Vijayaganapathy Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Vijayaganapathy Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 8,80,000, with a stamp duty of Rs 61,600 and a registration fee of Rs 17,600, totaling Rs 79,200.

Which office handles the registration for Vijayaganapathy Street?

The registration for Vijayaganapathy Street is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.