Guideline Value for Vijayalakshmi 2st cross Street

Vijayalakshmi 2st cross Street guideline value

The current guideline value of Vijayalakshmi 2st cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vijayalakshmi 2st cross Street has changed

Over the years, the guideline value for Vijayalakshmi 2st cross Street has seen several revisions. The 2012 revision recorded a guideline value of Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the most recent 2024 revision set it at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is a 10% increase. The 2023 to 2024 change represents a 10% rise, while the jump from 2017 to 2023 shows a significant increase of 49%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Vijayalakshmi 2st cross Street is below this median.

• Vijayalakshmi 1st cross Street: Rs 1,100 per sq.ft (2024)
• Vijayalakshmi 3st cross Street: Rs 1,100 per sq.ft (2024)
• Vijayalakshmi 4st cross Street: Rs 1,100 per sq.ft (2024)
• Vijayalakshmi Street: Rs 1,100 per sq.ft (2024)
• Vimal Avenue: Rs 1,650 per sq.ft (2024)
• Vinayagar Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalakshmi 2st cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijayalakshmi 2st cross Street?

The Vijayalakshmi 2st cross Street is covered by 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 more information.

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

The guideline value is an essential component in the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This value is crucial for both buyers and sellers to understand, as it affects the overall cost of the transaction and the legal obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Vijayalakshmi 2st cross Street?

The current guideline value of Vijayalakshmi 2st cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Vijayalakshmi 2st cross Street has increased from Rs 1,000 per sq.ft in 2012 to Rs 1,100 per sq.ft in 2024, with a notable decrease to Rs 670 per sq.ft in 2017 before rising again.

What is the land classification for Vijayalakshmi 2st cross Street?

The land classification for Vijayalakshmi 2st cross Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Vijayalakshmi 2st cross Street is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.