Guideline Value for victory avenue extn

Victory Avenue Extn guideline value

The current guideline value of Victory Avenue Extn, located in Vengambakkam village, is Rs 1,320 per sq.ft, effective from the 2024 revision. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - III.

How the guideline value of Victory Avenue Extn has changed

The guideline value for Victory Avenue Extn has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 5,000 per sq.ft. The median value is Rs 770 per sq.ft, placing Victory Avenue Extn's 2024 figure above this median.

• Victory Avenue: Rs 1,320 per sq.ft (2024)
• Victor Avenue 1st Main Road: Rs 1,430 per sq.ft (2024)
• V.O.C. Street: Rs 440 per sq.ft (2024)
• Western Gate of Daniel: Rs 3,300 per sq.ft (2024)
• Vasantham Avenue Extension: Rs 1,430 per sq.ft (2024)
• Vamanan Small City: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Victory Avenue Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Victory Avenue Extn?

The Victory Avenue Extn falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Vengambakkam

The guideline value is a crucial factor in property transactions in Vengambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for any property transaction.

When buying or selling property, it is essential to be aware of the current guideline value, as it can impact the overall costs involved in the registration process. Ensuring compliance with these values is necessary for a smooth transaction.

Frequently asked questions

What is the current guideline value of Victory Avenue Extn?

The current guideline value of Victory Avenue Extn is Rs 1,320 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Victory Avenue Extn?

Victory Avenue Extn is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Victory Avenue Extn?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where is the Sub Registrar Office for Victory Avenue Extn located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.