Guideline Value for SRI VIGNESH NAGAR

Sri Vignesh Nagar guideline value

The current guideline value of Sri Vignesh Nagar, located in Nemilancheri village under the Avadi SRO, is Rs 990 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Sri Vignesh Nagar has changed

In the 2012 revision, the guideline value was Rs 900 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 603 per sq.ft. Following this, the value increased significantly to Rs 900 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision has further increased it to Rs 990 per sq.ft, representing a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for Sri Vignesh Nagar. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Nemilancheri

In Nemilancheri, there are 15 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 1,870 per sq.ft, with the median value being Rs 990 per sq.ft. Sri Vignesh Nagar's current guideline value aligns perfectly with this median.

• Srinath Nagar Extension II: Rs 1,100 per sq.ft (2024)
• Srinath Nagar: Rs 1,300 per sq.ft (2024)
• Sri Devi Nagar Annexe: Rs 660 per sq.ft (2024)
• Sri Devi Nagar: Rs 660 per sq.ft (2024)
• P Dot G Flora: Rs 1,300 per sq.ft (2024)
• Padmavathi Nagar: Rs 770 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 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Vignesh Nagar?

The Sub Registrar Office that covers Sri Vignesh Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Nemilancheri. It determines the minimum value at which a property can be registered and influences the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline values to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Sri Vignesh Nagar?

The current guideline value of Sri Vignesh Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 900 per sq.ft to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Sri Vignesh Nagar?

Sri Vignesh Nagar is classified as Residential Special Type - III, which indicates its designated use for residential purposes.

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

The Sub Registrar Office for Sri Vignesh Nagar is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for properties in Sri Vignesh Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 9,90,000 would incur a stamp duty of Rs 69,300 at 7%.