Guideline Value for vijaya nagar

Vijaya Nagar guideline value

The current guideline value of Vijaya Nagar, located in Walajabad village under the Walajabad SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - II.

How the guideline value of Vijaya Nagar has changed

In the 2012 revision, the guideline value was set at Rs 550 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 368 per sq.ft, marking a decline of 33%. However, in the following revisions, the value increased significantly, reaching Rs 550 per sq.ft again in 2023 and remaining at that rate in the 2024 revision, indicating a total increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 550 per sq.ft.

The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 750 per sq.ft. The guideline value of Vijaya Nagar is below this median.

• Vinodha Nagar: Rs 1,500 per sq.ft (2024)
• V.M.Avenue: Rs 700 per sq.ft (2024)
• Venkatrama Pillai Srteet: Rs 750 per sq.ft (2024)
• V.V.Kovil Street: Rs 1,000 per sq.ft (2024)
• W.K. Rathinavel St: Rs 750 per sq.ft (2024)
• W.T.Natarajan St: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total charges to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijaya Nagar?

The Vijaya Nagar area falls under the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Walajabad. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the taxes applied are based on a standardized value set by the registration department.

Frequently asked questions

What is the current guideline value of Vijaya Nagar?

The current guideline value of Vijaya Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value of Vijaya Nagar changed over the years?

The guideline value has remained at Rs 550 per sq.ft since the 2012 revision, with a notable decrease to Rs 368 per sq.ft in 2017, followed by a return to Rs 550 per sq.ft in 2023 and 2024.

What are the other streets in Walajabad and their guideline values?

Other streets in Walajabad include Vinodha Nagar at Rs 1,500 per sq.ft, V.M.Avenue at Rs 700 per sq.ft, Venkatrama Pillai Srteet at Rs 750 per sq.ft, V.V.Kovil Street at Rs 1,000 per sq.ft, W.K. Rathinavel St at Rs 750 per sq.ft, and W.T.Natarajan St at Rs 500 per sq.ft.

What fees are involved in registering property in Vijaya Nagar?

The fees involved in registering property include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vijaya Nagar?

The Sub Registrar Office covering Vijaya Nagar is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.