Guideline Value for Vijayalakshmi Street

Vijayalakshmi Street guideline value

The current guideline value of Vijayalakshmi Street in Peerklankaranai village is Rs 1,100 per sq.ft, effective from the 2024 revision. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Vijayalakshmi Street has changed

The guideline value for Vijayalakshmi Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017. The value then increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%. The transition from 2023 to 2024 saw a rise of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10% despite the dip experienced between 2012 and 2017.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Vijayalakshmi Street's 2024 figure below this median.

• Vijayalakshmi 4st cross Street: Rs 1,100 per sq.ft (2024)
• Vijayalakshmi 3st cross Street: Rs 1,100 per sq.ft (2024)
• Vijayalakshmi 2st cross Street: Rs 1,100 per sq.ft (2024)
• Vijayalakshmi 1st cross Street: Rs 1,100 per sq.ft (2024)
• Vimal Avenue: Rs 1,650 per sq.ft (2024)
• Vinayagar Koil Street: Rs 1,650 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 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that 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 Street?

The Vijayalakshmi Street falls under the Tambaram Joint 1 Sub Registrar Office located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value plays a crucial role during property registration in Peerklankaranai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are applied fairly based on the property's value. When buying or selling property, the guideline value helps determine the official transaction value for registration purposes.

Additionally, buyers and sellers must be aware that the guideline value can influence the overall cost of property transactions. It is essential to consider this value when negotiating sale prices and preparing for the associated fees during the registration process.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Street?

The current guideline value of Vijayalakshmi Street is Rs 1,100 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of 2024.

What is the land classification for Vijayalakshmi Street?

Vijayalakshmi Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where is the Tambaram Joint 1 Sub Registrar Office located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is stamp duty calculated for properties on Vijayalakshmi Street?

Stamp duty for properties on Vijayalakshmi Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 77,000.