Guideline Value for Vijayalakshmi Nagar Part - I

Vijayalakshmi Nagar Part - I guideline value

The current guideline value of Vijayalakshmi Nagar Part - I is Rs 402 per sq.ft. This area is located in Ponthoor village and falls under the Sriperumpudur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Vijayalakshmi Nagar Part - I has changed

Over the years, the guideline value for Vijayalakshmi Nagar Part - I has seen several revisions. The earliest recorded figure is from 2007, which was Rs 75 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012, marking a substantial rise of 433%. However, the value then decreased to Rs 268 per sq.ft in 2017, a drop of 33%. The guideline value remained at Rs 402 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

From 2017 to 2023, there was a notable increase of 50%, bringing the value back to Rs 402 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 436%, reflecting the changes over the years.

Guideline values in Ponthoor

Ponthoor village has a total of 79 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 200 to Rs 2,239 per sq.ft. The median guideline value in this village is Rs 300 per sq.ft, placing Vijayalakshmi Nagar Part - I above this median at Rs 402 per sq.ft.

• Vijayalakshmi Nagar: Rs 402 per sq.ft (2024)
• Vijayalakshmi Town: Rs 402 per sq.ft (2024)
• Vijaya Avenue: Rs 300 per sq.ft (2024)
• Vinayaga nagar: Rs 300 per sq.ft (2024)
• Viswasanthi Nagar: Rs 500 per sq.ft (2024)
• Vetchi Poo Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalakshmi Nagar Part - I

For a 1,000 sq.ft plot at the current guideline value of Rs 402 per sq.ft, the total guideline value amounts to Rs 4,02,000. The stamp duty, charged at 7%, would be Rs 28,140, while the registration fee at 2% would be Rs 8,040. Therefore, the total cost for stamp duty and registration would be Rs 36,180. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijayalakshmi Nagar Part - I?

The Vijayalakshmi Nagar Part - I area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Ponthoor. It is used to determine the stamp duty and registration fees that are applicable during the registration of property transactions. Buyers should be aware that the guideline value is set by the government and reflects the minimum value for property transactions in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two figures is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate amount in taxes based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar Part - I?

The current guideline value of Vijayalakshmi Nagar Part - I is Rs 402 per sq.ft, as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2007 to Rs 402 per sq.ft in 2024, marking an overall increase of 436%. The value remained the same at Rs 402 per sq.ft from 2023 to 2024.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 4,02,000, the stamp duty would be Rs 28,140, and the registration fee would be Rs 8,040, totaling Rs 36,180. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Vijayalakshmi Nagar Part - I?

The Sriperumpudur Sub Registrar Office handles property registrations in Vijayalakshmi Nagar Part - I. It is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for property transactions and is used to calculate stamp duty and registration fees. It helps ensure that the appropriate taxes are collected during property transfers.