Guideline Value for Vijayalakshmi Nagar

Vijayalakshmi Nagar guideline value

The current guideline value of Vijayalakshmi Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Manimangalam A village, under the Padappai SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Vijayalakshmi Nagar has changed

In the 2017 revision, the guideline value was Rs 469 per sq.ft. This increased significantly to Rs 700 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 set the guideline value at Rs 770 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, placing Vijayalakshmi Nagar's 2024 figure below that median.

• Vignesh Avenue: Rs 770 per sq.ft (2024)
• Vinayaga Nagar Extn 1 to 5: Rs 880 per sq.ft (2024)
• V.M.Nagar: Rs 770 per sq.ft (2024)
• Velankanni Nagar: Rs 770 per sq.ft (2024)
• Vaigundha Perumal Koil Street: Rs 880 per sq.ft (2024)
• Udhayam Nagar Extn: Rs 880 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, together totaling Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijayalakshmi Nagar?

The Vijayalakshmi Nagar area falls under the Padappai Sub Registrar Office located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Manimangalam A. It serves as a benchmark for calculating the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar?

The current guideline value of Vijayalakshmi Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 469 per sq.ft to Rs 770 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the median guideline value in Manimangalam A?

The median guideline value for streets in Manimangalam A is Rs 880 per sq.ft, which is above the current guideline value of Vijayalakshmi Nagar.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in Vijayalakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at 7%.