Guideline Value for Vijayalakshmi street(Bhavani nagar)

Vijayalakshmi street(Bhavani nagar) guideline value

The current guideline value of Vijayalakshmi street(Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Vijayalakshmi street(Bhavani nagar) has changed

The guideline value for Vijayalakshmi street(Bhavani nagar) has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 275%. However, it then decreased to Rs 1,005 per sq.ft in 2017, representing a decline of 33%. The value then increased sharply to Rs 1,500 per sq.ft in 2023, a rise of 49%, and has now reached Rs 1,600 per sq.ft with the 2024 revision, which is a 7% increase.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, placing Vijayalakshmi street(Bhavani nagar) above this median with its current value of Rs 1,600 per sq.ft.

• VGN Serenity Grove Phase - II: Rs 3,300 per sq.ft (2024)
• VGN Serenity Grove: Rs 2,200 per sq.ft (2024)
• Vinayakar Koil Street: Rs 880 per sq.ft (2024)
• Vivekananda Nagar: Rs 1,100 per sq.ft (2024)
• Vivek Nagar: Rs 1,100 per sq.ft (2024)
• V.O.C. Cross Street (Jayaram nagar): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalakshmi street(Bhavani nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that 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(Bhavani nagar)?

The Sub Registrar Office that covers Vijayalakshmi street(Bhavani nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ayappakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vijayalakshmi street(Bhavani nagar)?

The current guideline value of Vijayalakshmi street(Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 300% over the years.

What is the land classification for Vijayalakshmi street(Bhavani nagar)?

The land classification for Vijayalakshmi street(Bhavani nagar) is Residential Special Type - III.

What is the stamp duty rate for property in Vijayalakshmi street(Bhavani nagar)?

The stamp duty rate for property transactions in Vijayalakshmi street(Bhavani nagar) is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vijayalakshmi street(Bhavani nagar)?

The Sub Registrar Office for Vijayalakshmi street(Bhavani nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.