Guideline Value for SRI VIGNESH NAGAR

Sri Vignesh Nagar guideline value

The current guideline value of Sri Vignesh Nagar, located in Ninna Karai village under the Chengleput Joint II SRO, is Rs 660 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - III land classification.

How the guideline value of Sri Vignesh Nagar has changed

Over the years, the guideline value for Sri Vignesh Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 660 per sq.ft, which is a 10% increase from the 2023 revision of Rs 600 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, there were no recorded figures for Sri Vignesh Nagar in the years mentioned. The 2024 figure is the first recorded value since the 2023 revision, indicating a notable increase in the guideline value.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in the village is Rs 1,100 per sq.ft, placing Sri Vignesh Nagar's 2024 figure below this median.

• Station Street (Ward -18): Rs 660 per sq.ft (2024)
• Subramania Siva Salai (Ward -8): Rs 1,321 per sq.ft (2024)
• Sri Sakthi Nagar (Ward -15): Rs 660 per sq.ft (2024)
• Sundarar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Sri Ram Nagar (Kr): Rs 660 per sq.ft (2024)
• Surendhrapuram Phase - I: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vignesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, leading to a total of Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Vignesh Nagar?

The Sub Registrar Office that covers Sri Vignesh Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Ninna Karai. It is used to determine the applicable stamp duty and registration fees, ensuring that both parties in a transaction are aware of the financial obligations involved.

When buying or selling property, the guideline value serves as a benchmark for the property's worth, influencing the overall transaction process. Buyers and sellers should be familiar with the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Sri Vignesh Nagar?

The current guideline value of Sri Vignesh Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Sri Vignesh Nagar?

Sri Vignesh Nagar falls under the Residential Class I Type - III land classification.

What are the stamp duty and registration fees for a property in Sri Vignesh Nagar?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles property registrations in Sri Vignesh Nagar?

The Chengleput Joint II Sub Registrar Office handles property registrations in Sri Vignesh Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.