Guideline Value for SRI VIGNESHWARA NAGAR

Sri Vigneshwara Nagar guideline value

The current guideline value of Sri Vigneshwara Nagar is Rs 226 per sq.ft, effective from 1 July 2024. This area is located in Kizhnallathur & Melnallathur village under the Manavalanagar SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Vigneshwara Nagar has changed

Looking at the historical revisions, the guideline value for Sri Vigneshwara Nagar was Rs 225 per sq.ft in 2012, which then decreased to Rs 151 per sq.ft in 2017. From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 226 per sq.ft. The 2023 revision maintained this figure, and the same value continues into the 2024 revision, showing no change.

The register has no figures for the years 2002, 2003, and 2007 for this street. As a result, the most recent revisions reflect a stable guideline value since 2023, with the overall change from 2012 to 2024 being 0%.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft. The median value for these streets is Rs 250 per sq.ft, indicating that Sri Vigneshwara Nagar's 2024 figure is below this median.

• Sri Venkateswara Nagar: Rs 226 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 226 per sq.ft (2024)
• Sun City Phase 1: Rs 226 per sq.ft (2024)
• Srinivasa Nagar: Rs 200 per sq.ft (2024)
• Sv Nagar, Gangaiamman Nagar: Rs 226 per sq.ft (2024)
• Thangam Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vigneshwara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 226 per sq.ft, the total guideline value amounts to Rs 2,26,000. The stamp duty at 7% would be Rs 15,820, and the registration fee at 2% would be Rs 4,520, leading to a total of Rs 20,340. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Sri Vigneshwara Nagar?

Sri Vigneshwara Nagar falls under the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value is a crucial factor during property registration in Kizhnallathur & Melnallathur. It determines the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value according to government standards.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs in the transaction process. Buyers should be aware of these values to avoid any surprises during the registration of their property.

Frequently asked questions

What is the current guideline value of Sri Vigneshwara Nagar?

The current guideline value of Sri Vigneshwara Nagar is Rs 226 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a decrease from Rs 225 per sq.ft in 2012 to Rs 151 per sq.ft in 2017, followed by a significant increase to Rs 226 per sq.ft in 2023, which has remained unchanged into 2024.

What is the median guideline value in Kizhnallathur & Melnallathur?

The median guideline value for streets in Kizhnallathur & Melnallathur is Rs 250 per sq.ft, indicating that Sri Vigneshwara Nagar's value is below this median.

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

The stamp duty for a property valued at Rs 2,26,000 is Rs 15,820, and the registration fee is Rs 4,520, totaling Rs 20,340 for a 1,000 sq.ft plot.

Which Sub Registrar Office covers Sri Vigneshwara Nagar?

The Manavalanagar Sub Registrar Office covers Sri Vigneshwara Nagar, located on Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai.