Guideline Value for Vijayalakshmi Nagar

Vijayalakshmi Nagar guideline value

The current guideline value of Vijayalakshmi Nagar, located in Sevilimadu - A, is Rs 1,100 per sq.ft, effective from the 2024 revision. This area falls under the Kanchipuram Joint II SRO and is classified as Residential Class I 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 2017 revision recorded a guideline value of Rs 670 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision has set the guideline value at Rs 1,100 per sq.ft, which is a further increase of 10% from the previous year.

From 2017 to 2024, the overall increase in the guideline value is 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Sevilimadu - A

In Sevilimadu - A, there are 58 streets under the Kanchipuram Joint II SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,200 per sq.ft, with the median being Rs 1,100 per sq.ft. The guideline value for Vijayalakshmi Nagar aligns with this median.

• Visalakshi Nagar: Rs 1,100 per sq.ft (2024)
• Velayudam Nagar: Rs 1,100 per sq.ft (2024)
• Vedachalam Nagar(South): Rs 1,100 per sq.ft (2024)
• Vandavasi Road: Rs 2,200 per sq.ft (2024)
• Vallalar ST: Rs 1,100 per sq.ft (2024)
• Thiruchittrambalam Nagar: Rs 1,100 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vijayalakshmi Nagar?

The Vijayalakshmi Nagar area is covered by the Kanchipuram Joint II Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. To find more details, you can find your SRO.

How the guideline value is used when you buy or sell in Sevilimadu - A

The guideline value is a crucial factor during property transactions in Sevilimadu - A. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the minimum value at which a property can be registered. This ensures that properties are not undervalued during transactions, maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar?

The current guideline value of Vijayalakshmi Nagar is Rs 1,100 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64% over this period.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where can I find the Sub Registrar Office for Vijayalakshmi Nagar?

The Kanchipuram Joint II Sub Registrar Office is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration and to calculate stamp duty and registration fees, ensuring fair transactions in the real estate market.