Guideline Value for Vijayalaxmi Nagar

Vijayalaxmi Nagar guideline value

The current guideline value of Vijayalaxmi Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This locality is situated in Mannoor village, under the Sriperumpudur SRO, and is classified as Residential Special Type - II.

How the guideline value of Vijayalaxmi Nagar has changed

The guideline value for Vijayalaxmi Nagar has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 500 per sq.ft. This remained unchanged in the 2017 revision, where it was Rs 335 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 500 per sq.ft. The 2023 revision also maintained this value, with no change to Rs 500 per sq.ft for the 2024 revision.

It is important to note that there are no figures available in the register for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable, showing an increase of 0%.

Guideline values in Mannoor

In Mannoor, there are 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,500 per sq.ft. The median guideline value in this area is Rs 250 per sq.ft, positioning Vijayalaxmi Nagar's 2024 figure above this median.

• Vianayaga Nagar: Rs 300 per sq.ft (2024)
• Vetri Nagar: Rs 200 per sq.ft (2024)
• Veeralaxmi Nagar: Rs 250 per sq.ft (2024)
• Vairavar Nagar: Rs 200 per sq.ft (2024)
• Udhaya Dinesh Nagar: Rs 200 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalaxmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijayalaxmi Nagar?

The Sub Registrar Office covering Vijayalaxmi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Mannoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vijayalaxmi Nagar?

The current guideline value of Vijayalaxmi Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 500 per sq.ft. Notably, the value increased by 49% from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023.

What are the guideline values of other streets in Mannoor?

Other streets in Mannoor have varying guideline values. For example, Vianayaga Nagar is Rs 300 per sq.ft, while Vetri Nagar is Rs 200 per sq.ft. The values range from Rs 100 to Rs 1,500 per sq.ft across the 56 streets in the area.

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

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000, and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vijayalaxmi Nagar located?

The Sriperumpudur Sub Registrar Office, which covers Vijayalaxmi Nagar, is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.