Guideline Value for Vijayalakshmi Nagar

Vijayalakshmi Nagar guideline value

The current guideline value of Vijayalakshmi Nagar, located in Ponthoor village under the Sriperumpudur SRO, is Rs 402 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - III.

How the guideline value of Vijayalakshmi Nagar has changed

The guideline value for Vijayalakshmi Nagar has seen several revisions over the years. In 2007, the value was Rs 75 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012. However, this figure dropped to Rs 268 per sq.ft in 2017. The 2023 revision maintained the value at Rs 402 per sq.ft, which remains unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 50%. The transition from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was a substantial 433%. Overall, from 2007 to 2024, the guideline value has increased by 436%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ponthoor

Ponthoor village has a total of 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 2,239 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing Vijayalakshmi Nagar's value above this median.

• Vijayalakshmi Nagar Part - I: Rs 402 per sq.ft (2024)
• Vijayalakshmi Town: Rs 402 per sq.ft (2024)
• Vijaya Avenue: Rs 300 per sq.ft (2024)
• Vinayaga nagar: Rs 300 per sq.ft (2024)
• Viswasanthi Nagar: Rs 500 per sq.ft (2024)
• Vetchi Poo Street: Rs 300 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 402 per sq.ft, the total guideline value amounts to Rs 4,02,000. The stamp duty at 7% would be Rs 28,140, and the registration fee at 2% would be Rs 8,040, bringing the total fees together to Rs 36,180. It is important to note that the 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 falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Ponthoor, as it is used to determine the stamp duty and registration fees when buying or selling property. Buyers must be aware that the guideline value is often the basis for calculating these fees, ensuring that the transaction adheres to the legal requirements set by the registration department.

When a property is registered, the guideline value ensures that the transaction reflects a fair assessment of the property's worth. This helps maintain transparency in property dealings and ensures that the government receives the appropriate revenue through stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar?

The current guideline value of Vijayalakshmi Nagar is Rs 402 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2007 to Rs 402 per sq.ft in 2024, reflecting an overall increase of 436% over the years.

What is the land classification for Vijayalakshmi Nagar?

Vijayalakshmi Nagar is classified as Residential Special Type - III, indicating its suitability for residential development.

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

The Sriperumpudur Sub Registrar Office, which covers Vijayalakshmi Nagar, is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vijayalakshmi Nagar?

Stamp duty for properties in Vijayalakshmi Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 4,02,000 would incur a stamp duty of Rs 28,140 at 7%.