Guideline Value for Vijayalakshmi Nagar

Vijayalakshmi Nagar guideline value

The current guideline value of Vijayalakshmi Nagar is Rs 500 per sq.ft, effective from the 2024 revision. This area is located in Kavanur village under the Gooduvancheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Vijayalakshmi Nagar has changed

Over the years, the guideline value for Vijayalakshmi Nagar has seen several revisions. The 2007 revision set the value at Rs 150 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, it then dropped to Rs 335 per sq.ft in 2017, before rising to Rs 500 per sq.ft again in both the 2023 and 2024 revisions. Notably, the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the overall change from 2007 to 2024 reflects a substantial increase of 233%. The consistent figure of Rs 500 per sq.ft in the recent revisions indicates stability in the guideline value for Vijayalakshmi Nagar.

Guideline values in Kavanur

Kavanur village has a total of 109 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 500 to Rs 2,239 per sq.ft. The median guideline value for these streets is Rs 800 per sq.ft, placing Vijayalakshmi Nagar's current value below this median.

• Vinoth Nagar: Rs 700 per sq.ft (2024)
• Vgn Southern Meadows Phase IV: Rs 2,239 per sq.ft (2024)
• V.G.N. Southern County Phase-II: Rs 600 per sq.ft (2024)
• Vrk Avenue: Rs 1,000 per sq.ft (2024)
• Vatchala Garden: Rs 500 per sq.ft (2024)
• Vaishnavi Nagar: Rs 700 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 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total fees Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijayalakshmi Nagar?

The Vijayalakshmi Nagar area falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of properties in Kavanur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and complies with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the costs associated with property registration. Ensuring that the guideline value is understood can help in making informed decisions during the property transaction process.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar?

The current guideline value of Vijayalakshmi Nagar is Rs 500 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 500 per sq.ft in 2024, with various fluctuations in between, including a drop to Rs 335 per sq.ft in 2017.

What is the median guideline value for streets in Kavanur?

The median guideline value for the 109 streets in Kavanur is Rs 800 per sq.ft, with Vijayalakshmi Nagar's current value below this median.

How is stamp duty calculated for properties in Vijayalakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 35,000.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.