Guideline Value for Vijayalakshmi Nagar

Vijayalakshmi Nagar guideline value

The current guideline value of Vijayalakshmi Nagar is Rs 800 per sq.ft, effective from the 2024 revision. This area is located in Melaripakkam village and falls under the Chengleput Joint I SRO. The land classification for this region is Mixed Special Type - II.

How the guideline value of Vijayalakshmi Nagar has changed

The guideline value for Vijayalakshmi Nagar has seen no changes between the 2023 and 2024 revisions, remaining at Rs 800 per sq.ft. The 2023 revision also listed the guideline value at Rs 800 per sq.ft. For the years 2017, 2012, 2007, 2003, and 2002, the register has no figure for this street.

Guideline values in Melaripakkam

In addition to Vijayalakshmi Nagar, the following are other streets in Melaripakkam under the Chengleput Joint I SRO:

• Chengai Crown City Phase-III: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijayalakshmi Nagar?

The Vijayalakshmi Nagar area is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Melaripakkam

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Melaripakkam, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is important for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations. The guideline value serves as a benchmark for property transactions, helping to standardize property values within the region.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar?

The current guideline value of Vijayalakshmi Nagar is Rs 800 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value for Vijayalakshmi Nagar has remained constant at Rs 800 per sq.ft for both the 2023 and 2024 revisions. There are no figures available for the revisions in 2017, 2012, 2007, 2003, and 2002.

What is the registration fee for property in Vijayalakshmi Nagar?

The registration fee for property in Vijayalakshmi Nagar is calculated based on the guideline value. For example, for a property valued at Rs 8,00,000, the registration fee would be Rs 16,000 at 2%.

Where can I find the Chengleput Joint I SRO?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in the Vijayalakshmi Nagar area.

How is stamp duty calculated for properties in Vijayalakshmi Nagar?

Stamp duty for properties in Vijayalakshmi Nagar is charged at 7% of the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 8,00,000, the stamp duty would amount to Rs 56,000.