Guideline Value for Vijayalakshmi nagar

Vijayalakshmi nagar guideline value

The current guideline value of Vijayalakshmi Nagar, Poonthamallee village, under the Poonamallee SRO is Rs 3,250 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - II.

How the guideline value of Vijayalakshmi nagar has changed

The guideline value of Vijayalakshmi Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, and the latest revision in 2024 has raised it to Rs 3,250 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 650%. However, from 2012 to 2017, it decreased by 33%. Following this, there was a substantial increase of 49% from 2017 to 2023. The latest change from 2023 to 2024 reflects an increase of 8%. Overall, from 2007 to 2024, the guideline value has risen by 713%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Vijayalakshmi Nagar is above this median.

• Vijayalakshmi avenue: Rs 2,200 per sq.ft (2024)
• Vijayalakshmi Nagar 1st Street: Rs 3,250 per sq.ft (2024)
• Vijayalakshmi Nagar 2nd Street: Rs 3,250 per sq.ft (2024)
• Vijayalakshmi Nagar 3rd Street: Rs 3,250 per sq.ft (2024)
• Viswanathan nagar MS: Rs 2,200 per sq.ft (2024)
• VPR Avenue: Rs 2,200 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 3,250 per sq.ft, the total guideline value would be Rs 32,50,000. The stamp duty at 7% would amount to Rs 2,27,500, while the registration fee at 2% would be Rs 65,000, bringing the total to Rs 2,92,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Vijayalakshmi nagar?

The Vijayalakshmi Nagar area falls under the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Poonthamallee. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value recognized by the government.

When you buy or sell property, the guideline value helps in determining the official value of the property, which is essential for legal and financial purposes. This ensures transparency and fairness in property transactions within the area.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Nagar?

The current guideline value of Vijayalakshmi Nagar is Rs 3,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 3,250 per sq.ft in 2024, reflecting an overall increase of 713% over the years.

What are the other streets in Poonthamallee with their guideline values?

Other streets in Poonthamallee include Vijayalakshmi avenue at Rs 2,200 per sq.ft, and several streets in Vijayalakshmi Nagar, all at Rs 3,250 per sq.ft as of 2024.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 32,50,000, the total fees would amount to Rs 2,92,500.

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

The Sub Registrar Office for Vijayalakshmi Nagar is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find more details online.