Guideline Value for Vijayalakshmi Nagar 1st Street

Vijayalakshmi Nagar 1st Street guideline value

The current guideline value of Vijayalakshmi Nagar 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Vijayalakshmi Nagar 1st Street has changed

The guideline value for Vijayalakshmi Nagar 1st Street has seen several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the value at Rs 1,980 per sq.ft, reflecting a 10% increase compared to the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, which is equal to the current guideline value of Vijayalakshmi Nagar 1st Street.

• Vijayalakshmi Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 1,980 per sq.ft (2024)
• Vijayalakshmi Pandit 1st Street: Rs 1,760 per sq.ft (2024)
• Vijayalakshmi Pandit 2nd Street: Rs 1,760 per sq.ft (2024)
• Vijayalakshmi Pandit Street: Rs 1,760 per sq.ft (2024)
• Victoria Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalakshmi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value is Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration would be Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vijayalakshmi Nagar 1st Street?

The Vijayalakshmi Nagar 1st Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Anakaputhur. It serves as the basis for calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and financial purposes. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar 1st Street?

The current guideline value of Vijayalakshmi Nagar 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and then to Rs 1,980 per sq.ft in 2024. This represents a 64% increase overall from 2017 to 2024.

What are the other streets in Anakaputhur with similar guideline values?

Other streets in Anakaputhur with a guideline value of Rs 1,980 per sq.ft include Vijayalakshmi Nagar 2nd Street and Vijayalakshmi Nagar. Other streets with different values include Vijayalakshmi Pandit 1st Street, Vijayalakshmi Pandit 2nd Street, and Victoria Street.

How is stamp duty calculated for properties in Vijayalakshmi Nagar 1st Street?

Stamp duty for properties in Vijayalakshmi Nagar 1st Street is calculated at 7% of the guideline value. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600.

Where can I find the Sub Registrar Office for Vijayalakshmi Nagar 1st Street?

The Sub Registrar Office covering Vijayalakshmi Nagar 1st Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information by visiting the relevant link.