Guideline Value for SRI VIGNESH NAGAR

Sri Vignesh Nagar guideline value

The current guideline value of Sri Vignesh Nagar, located in Paruthipattu village under the Avadi SRO, is Rs 950 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Sri Vignesh Nagar has changed

The guideline value for Sri Vignesh Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 350 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012. However, this value dropped to Rs 603 per sq.ft in 2017. The subsequent revision in 2023 raised it to Rs 900 per sq.ft, and the latest revision in 2024 has set it at Rs 950 per sq.ft. It should be noted that there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, followed by a 6% increase from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 171%, reflecting the fluctuations in the guideline value over the years.

Guideline values in Paruthipattu

In Paruthipattu village, there are 486 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft, and the median value is Rs 1,625 per sq.ft. The guideline value of Sri Vignesh Nagar is below this median.

• Sri Venkateswara Nagar: Rs 950 per sq.ft (2024)
• S.R.M. Garden: Rs 950 per sq.ft (2024)
• Station Road: Rs 1,625 per sq.ft (2024)
• Sri Sudharsanam Nagar Phase - II: Rs 1,925 per sq.ft (2024)
• Sri Sudarsanam Nagar Phase III: Rs 2,210 per sq.ft (2024)
• Sri Sudarsanam Nagar: Rs 1,925 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 rate of Rs 950 per sq.ft, the guideline value amounts to Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, bringing the total to Rs 85,500. It is important to note that duty is charged on the higher of the guideline value or 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. The address is 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 Paruthipattu

The guideline value plays a crucial role in property transactions in Paruthipattu. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is often considered the minimum value for property transactions.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Vignesh Nagar?

The current guideline value of Sri Vignesh Nagar is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 350 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, reflecting an overall increase of 171% from 2007 to 2024.

What is the land classification of Sri Vignesh Nagar?

Sri Vignesh Nagar falls under the Residential Class II Type - I land classification, which is typical for residential areas in Tamil Nadu.

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

For a property valued at Rs 9,50,000, the stamp duty would be Rs 66,500, and the registration fee would be Rs 19,000, totaling Rs 85,500.

Which office handles property registrations for Sri Vignesh Nagar?

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