Guideline Value for Vijayalakshmi Nagar Phase I,II,III,IV,V,VI,VII

Vijayalakshmi Nagar Phase I,II,III,IV,V,VI,VII guideline value

The current guideline value for Vijayalakshmi Nagar Phase I,II,III,IV,V,VI,VII is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Manapakkam village and falls under the Chengleput Joint I SRO. The land classification is Residential Class I Type - I.

How the guideline value of Vijayalakshmi Nagar Phase I,II,III,IV,V,VI,VII has changed

The guideline value for Vijayalakshmi Nagar has seen several revisions over the years. The earliest recorded figure in the register is from 2012, which was Rs 200 per sq.ft. In 2017, the value decreased to Rs 134 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision maintains this value, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street, indicating that the guideline value has remained stable at Rs 200 per sq.ft since 2012, with fluctuations in between.

Guideline values in Manapakkam

In Manapakkam, there are 11 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 500 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Vijayalakshmi Nagar matches this median.

• Syamala Real City Phase 1,2,3: Rs 150 per sq.ft (2024)
• Sakthi Garden: Rs 150 per sq.ft (2024)
• Sai Jothi Avenue: Rs 254 per sq.ft (2024)
• Om Saravanabava Nagar Phase-II: Rs 200 per sq.ft (2024)
• Om Saravanabava Nagar Phase-I: Rs 500 per sq.ft (2024)
• New Krishna Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalakshmi Nagar Phase I,II,III,IV,V,VI,VII

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, leading to a total of Rs 18,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijayalakshmi Nagar Phase I,II,III,IV,V,VI,VII?

The Vijayalakshmi Nagar Phase I,II,III,IV,V,VI,VII area is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid to the government. Buyers and sellers must be aware that the guideline value is used to assess the financial obligations associated with property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, regardless of the negotiated sale price.

Frequently asked questions

What is the current guideline value for Vijayalakshmi Nagar?

The current guideline value for Vijayalakshmi Nagar Phase I,II,III,IV,V,VI,VII is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a decrease to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023 and 2024.

Where can I find the Chengleput Joint I Sub Registrar Office?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

What are the stamp duty and registration fees for a property in Vijayalakshmi Nagar?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

How is the guideline value determined for properties in Manapakkam?

The guideline value for properties in Manapakkam is determined based on various factors, including the location and land classification, and is revised periodically by the Registration Department.