Guideline Value for Vijayalakshmi Nagar

Vijayalakshmi Nagar guideline value

The current guideline value of Vijayalakshmi Nagar, located in Anakaputhur village under the Pammal SRO, is Rs 1,980 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Vijayalakshmi Nagar has changed

The guideline value for Vijayalakshmi Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 271 per sq.ft, which increased to Rs 300 per sq.ft in 2007. This was followed by a substantial jump to Rs 1,206 per sq.ft in 2017, representing a 302% increase from the previous revision. The value further rose to Rs 1,800 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 631%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, which is equal to the guideline value of Vijayalakshmi Nagar.

• Vijayalakshmi Nagar 1st Street: Rs 1,980 per sq.ft (2024)
• Vijayalakshmi Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Vijayalakshmi Pandit 1st Street: Rs 1,760 per sq.ft (2024)
• Vijayalakshmi Pandit 2nd Street: Rs 1,760 per sq.ft (2024)
• Vijayalakshmi Pandit Street: Rs 1,760 per sq.ft (2024)
• Victoria Street: Rs 1,320 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijayalakshmi Nagar?

The Vijayalakshmi Nagar area falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Anakaputhur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. The guideline value must be considered during the registration process to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for calculating the necessary fees. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar?

The current guideline value of Vijayalakshmi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 271 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, marking a total increase of 631% over the years.

What is the registration office for Vijayalakshmi Nagar?

The Pammal Sub Registrar Office covers Vijayalakshmi Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Vijayalakshmi Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Are there other streets with similar guideline values in Anakaputhur?

Yes, there are other streets in Anakaputhur with similar guideline values. For instance, Vijayalakshmi Nagar 1st Street and 2nd Street also have a guideline value of Rs 1,980 per sq.ft in 2024.