Guideline Value for Vikram Colony

Vikram Colony guideline value

The current guideline value of Vikram Colony, located in Somangalam village under the Sriperumpudur SRO, is Rs 350 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Vikram Colony has changed

Over the years, the guideline value for Vikram Colony has seen several revisions. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 234 per sq.ft, a decrease of 33%. The value then increased by 50% to Rs 350 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, showing no change from the previous year.

Furthermore, the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 350 per sq.ft.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft. The median value for these streets is Rs 350 per sq.ft, which aligns with the guideline value of Vikram Colony.

• Vignesh Avenue (Vignesh Nagar): Rs 400 per sq.ft (2024)
• Vanavil Shiva Garden: Rs 400 per sq.ft (2024)
• Thoiba Garden - II: Rs 250 per sq.ft (2024)
• Thoiba Garden I: Rs 250 per sq.ft (2024)
• Thoiba Garden: Rs 250 per sq.ft (2024)
• Thiruvallur Road: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Vikram Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vikram Colony?

The Sub Registrar Office that covers Vikram Colony 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 Somangalam

The guideline value plays a crucial role in property transactions in Somangalam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value as it directly affects the overall cost of property transactions.

When a property is sold, the guideline value is referenced to ensure that the transaction is recorded accurately with the appropriate fees. This ensures transparency and compliance with local regulations during the buying and selling process.

Frequently asked questions

What is the current guideline value of Vikram Colony?

The current guideline value of Vikram Colony is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft from 2012 to 2024, with a drop to Rs 234 per sq.ft in 2017, and an increase back to Rs 350 per sq.ft in 2023.

What is the median guideline value in Somangalam?

The median guideline value in Somangalam is Rs 350 per sq.ft, which is the same as the guideline value for Vikram Colony.

What are the stamp duty and registration fees for property in Vikram Colony?

For a 1,000 sq.ft plot, the total guideline value is Rs 3,50,000. The stamp duty is Rs 24,500, and the registration fee is Rs 7,000, totaling Rs 31,500.

Where can I find the Sub Registrar Office for Vikram Colony?

The Sub Registrar Office for Vikram Colony is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.