Guideline Value for SRI VIGNESH CO-OP NAGAR

Sri Vignesh Co-Op Nagar guideline value

The current guideline value of Sri Vignesh Co-Op Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Athur B Block village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Sri Vignesh Co-Op Nagar has changed

Over the years, the guideline value of Sri Vignesh Co-Op Nagar has seen several revisions. The 2007 revision recorded a value of Rs 130 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 500 per sq.ft, which remains unchanged in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%, while the overall change from the 2007 revision to the 2024 revision shows an increase of 285%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Athur B Block

Athur B Block consists of 79 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 268 to Rs 1,525 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, placing Sri Vignesh Co-Op Nagar's 2024 figure below that median.

• Sri Srnivasa Avenue: Rs 1,344 per sq.ft (2024)
• Sri Sai Krishna Nagar: Rs 1,000 per sq.ft (2024)
• Sri Ramakrishna Nagar: Rs 600 per sq.ft (2024)
• Sri Margadarshan Vatika: Rs 1,493 per sq.ft (2024)
• Thendral Nagar: Rs 700 per sq.ft (2024)
• Thilakar Avenue: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vignesh Co-Op Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Vignesh Co-Op Nagar?

The Sri Vignesh Co-Op Nagar area falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

How the guideline value is used when you buy or sell in Athur B Block

The guideline value is a crucial factor when registering property transactions in Athur B Block. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is legally recognized and recorded.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sri Vignesh Co-Op Nagar?

The current guideline value of Sri Vignesh Co-Op Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent change being from Rs 500 per sq.ft in 2023 to Rs 500 per sq.ft in 2024. The value has increased from Rs 130 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, and then decreased to Rs 335 per sq.ft in 2017.

What is the land classification of Sri Vignesh Co-Op Nagar?

Sri Vignesh Co-Op Nagar is classified as Residential Special Type - II. This classification is important for determining the permissible uses of the land.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.

Where can I find the Sub Registrar Office for Sri Vignesh Co-Op Nagar?

The Sub Registrar Office covering Sri Vignesh Co-Op Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO by visiting the appropriate link.