Guideline Value for Vijiya Nagar 2nd Street

Vijiya Nagar 2nd Street guideline value

The current guideline value of Vijiya Nagar 2nd Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, falling under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Vijiya Nagar 2nd Street has changed

The guideline value for Vijiya Nagar 2nd Street has seen significant changes over the years. In 2002, the value was Rs 185 per sq.ft, which increased to Rs 229 per sq.ft in 2003, marking a 24% rise. The value continued to rise, reaching Rs 360 per sq.ft in 2007, which represented a 57% increase from the previous revision. By 2017, the guideline value had jumped to Rs 1,206 per sq.ft, reflecting a substantial 235% increase. In 2023, the value was Rs 1,800 per sq.ft, and the most recent revision in 2024 set it at Rs 1,980 per sq.ft, a 10% increase from the previous year. Notably, the register has no figure for this street in 2012.

Overall, from 2002 to 2024, the guideline value has increased by an impressive 970%. The revisions demonstrate a consistent upward trend in the guideline value, highlighting the changes in property valuation over the years.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Vijiya Nagar 2nd Street's current value below this median.

• Vijiya Nagar 1st 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 2nd 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, making the total fees together Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vijiya Nagar 2nd Street?

The Sub Registrar Office that covers Vijiya Nagar 2nd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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 a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions. The guideline value serves as a benchmark for property pricing, providing a standard reference for buyers and sellers alike.

During the registration process, the buyer must pay the stamp duty and registration fees based on the higher value between the guideline value and the sale price. This ensures that the property is registered at a value that reflects its market worth, as determined by the government.

Frequently asked questions

What is the current guideline value of Vijiya Nagar 2nd Street?

The current guideline value of Vijiya Nagar 2nd 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 from Rs 185 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, showing an overall increase of 970% over this period.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, which is above the current guideline value of Vijiya Nagar 2nd Street.

What are the stamp duty and registration fees for a property in Vijiya Nagar 2nd Street?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registration for Vijiya Nagar 2nd Street?

The Pammal Sub Registrar Office handles property registration for Vijiya Nagar 2nd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.