Guideline Value for Vijayalakshmi Street

Vijayalakshmi Street guideline value

The current guideline value of Vijayalakshmi Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and falls under the Residential Class III Type - II land classification.

How the guideline value of Vijayalakshmi Street has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This was followed by a significant decrease in the 2017 revision, where the value dropped to Rs 804 per sq.ft, marking a decline of 33%. The subsequent 2023 revision saw the value rise to Rs 1,200 per sq.ft, and then in the 2024 revision, it increased further to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Vijayalakshmi Street's 2024 figure is below this median.

• Vignesh Avenue Ext: Rs 1,300 per sq.ft (2024)
• Vignesh Avenue: Rs 1,300 per sq.ft (2024)
• Vinayagarpuram: Rs 1,300 per sq.ft (2024)
• Vinobha Nagar: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalakshmi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vijayalakshmi Street?

The Sub Registrar Office that covers Vijayalakshmi Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value in accordance with the local regulations.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller comply with the legal requirements during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Street?

The current guideline value of Vijayalakshmi Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 1,200 per sq.ft in 2012, dropped to Rs 804 per sq.ft in 2017, increased to Rs 1,200 per sq.ft in 2023, and finally rose to Rs 1,300 per sq.ft in 2024.

What is the land classification for Vijayalakshmi Street?

Vijayalakshmi Street falls under the Residential Class III Type - II land classification.

What are the stamp duty and registration fees for a property here?

For a property of 1,000 sq.ft at the guideline value of Rs 1,300 per sq.ft, the total guideline value is Rs 13,00,000. The stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers this street?

The Selaiyur Sub Registrar Office covers Vijayalakshmi Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.