Guideline Value for Vijayalakshmi Nagar

Vijayalakshmi Nagar guideline value

The current guideline value of Vijayalakshmi Nagar, located in Kanthoor village under the Sunguvarchattram SRO, is Rs 181 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Vijayalakshmi Nagar has changed

Over the years, the guideline value of Vijayalakshmi Nagar has seen several revisions. The 2012 revision set the value at Rs 180 per sq.ft, which then decreased to Rs 121 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 181 per sq.ft, a figure that remained unchanged in the 2024 revision.

It is noteworthy that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 1%.

Guideline values in Kanthoor

In Kanthoor village, there are 33 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 150 to Rs 700 per sq.ft. The median guideline value is Rs 181 per sq.ft, which is the same as the current value for Vijayalakshmi Nagar.

• ThideerKuppam: Rs 150 per sq.ft (2024)
• Sri Sai Nagar: Rs 700 per sq.ft (2024)
• Small Street: Rs 150 per sq.ft (2024)
• Sharma Nagar: Rs 250 per sq.ft (2024)
• School Street: Rs 181 per sq.ft (2024)
• Road Street: Rs 200 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 181 per sq.ft, the total guideline value would be Rs 1,81,000. The stamp duty at 7% would amount to Rs 12,670, and the registration fee at 2% would be Rs 3,620, bringing the total cost for these fees to Rs 16,290. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijayalakshmi Nagar?

The Sub Registrar Office that covers Vijayalakshmi Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kanthoor. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of this value as it impacts the overall cost of property transactions.

When registering a property, the guideline value is considered the minimum value for calculating various fees. This ensures that the government receives appropriate revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar?

The current guideline value of Vijayalakshmi Nagar is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 180 per sq.ft in 2012 to Rs 121 per sq.ft in 2017, then increased to Rs 181 per sq.ft in 2023 and remained the same in 2024.

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

For a 1,000 sq.ft plot, the stamp duty would be Rs 12,670 and the registration fee would be Rs 3,620, totaling Rs 16,290.

Which Sub Registrar Office covers Vijayalakshmi Nagar?

The Sunguvarchattram Sub Registrar Office covers Vijayalakshmi Nagar, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as the minimum value for these calculations, ensuring appropriate revenue for the government.