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Guideline Value

Corporate

Guideline Value for Vijayalakshmi Nagar Main Road

₹1900/sq.ft.

The guideline value for Vijayalakshmi Nagar Main Road in Selavoyal village (Madhavaram SRO, Chennai zone) is Rs 1900 per sq.ft, effective 1 July 2024. It was Rs 1800 per sq.ft from 1 April 2023, a 6% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Selavoyal

Village

Madhavaram

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹1900 /sq.ft.
From 1-4-2023 ₹1800 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1206 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Vijayalakshmi Nagar Main Road

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Vijayalakshmi Nagar Main Road guideline value

The current guideline value of Vijayalakshmi Nagar Main Road is Rs 1,900 per sq.ft, effective from 1 July 2024. This road is located in Selavoyal village under the Madhavaram SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Vijayalakshmi Nagar Main Road has changed

The guideline value for Vijayalakshmi Nagar Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, and the latest 2024 revision has set it at Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 27%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Vijayalakshmi Nagar Main Road is below this median.

Stamp duty and registration fee for property in Vijayalakshmi Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijayalakshmi Nagar Main Road?

The Vijayalakshmi Nagar Main Road is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Selavoyal, the guideline value is a critical factor in determining the registration fees and stamp duty payable. It serves as a reference point for the value of the property being transacted, ensuring that the fees are calculated based on a standardized valuation.

At the time of registration, the buyer must pay the applicable stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar Main Road?

The current guideline value of Vijayalakshmi Nagar Main Road is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent increase of 6% from Rs 1,800 per sq.ft in 2023 to Rs 1,900 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 27%.

What is the land classification for Vijayalakshmi Nagar Main Road?

Vijayalakshmi Nagar Main Road is classified as Residential Class III Type - I under the land classification system.

What are the stamp duty and registration fees for properties on this road?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles registrations for this area?

The Madhavaram Sub Registrar Office handles registrations for Vijayalakshmi Nagar Main Road, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.