Guideline Value for Vijiya Nagar 1st Street

Vijiya Nagar 1st Street guideline value

The current guideline value of Vijiya Nagar 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal Sub Registrar Office (SRO), and falls under the Residential Class II Type - II land classification.

How the guideline value of Vijiya Nagar 1st Street has changed

The guideline value for Vijiya Nagar 1st Street has seen significant changes over the years. In the 2002 revision, the value was Rs 165 per sq.ft. This increased to Rs 229 per sq.ft in 2003, marking a rise of 39%. The 2007 revision saw a further increase to Rs 360 per sq.ft, which was a 57% jump from the previous figure. By 2017, the value had risen dramatically to Rs 1,206 per sq.ft, reflecting a 235% increase from 2007. The 2023 revision set the value at Rs 1,800 per sq.ft, a 49% increase from 2017. The most recent 2024 revision has set the guideline value at Rs 1,980 per sq.ft, which is a 10% increase from 2023.

It is important to note that the register has no figure for this street in 2012. Overall, from 2002 to 2024, the guideline value has increased by 1,100%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Vijiya Nagar 1st Street's 2024 figure below that median.

• Vijiya Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Vigneshwara Nagar (All Streets): Rs 1,760 per sq.ft (2024)
• Vishwespuram extn: Rs 1,870 per sq.ft (2024)
• Visvesvapuram: Rs 1,870 per sq.ft (2024)
• Vivekanadar Street / VOC Nagar: Rs 1,980 per sq.ft (2024)
• V.O.C Nagar,1st Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vijiya Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijiya Nagar 1st Street?

The Pammal Sub Registrar Office covers Vijiya Nagar 1st Street. The office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value plays a crucial role in property transactions in Pammal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable during the registration process. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Additionally, understanding the guideline value helps both buyers and sellers to ensure compliance with local regulations and to facilitate a smoother transaction process. It is essential for all parties involved to be informed about the current guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Vijiya Nagar 1st Street?

The current guideline value of Vijiya Nagar 1st Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 165 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 1,100% over this period.

What are the stamp duty and registration fees for property in Vijiya Nagar 1st Street?

For a 1,000 sq.ft plot, the guideline value is Rs 19,80,000. The stamp duty at 7% is Rs 1,38,600, and the registration fee at 2% is Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers Vijiya Nagar 1st Street?

The Pammal Sub Registrar Office covers Vijiya Nagar 1st Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the range of guideline values in Pammal?

The guideline values in Pammal range from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft for the 2024 revision.