Guideline Value for Sri Vigneshwara Nagar Extn

Sri Vigneshwara Nagar Extn guideline value

The current guideline value for Sri Vigneshwara Nagar Extn is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Orathur village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Vigneshwara Nagar Extn has changed

The guideline value for Sri Vigneshwara Nagar Extn has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the 2017 revision. However, in the 2017 revision, the value was decreased to Rs 268 per sq.ft. The 2023 revision again set the value at Rs 400 per sq.ft, and this figure has been maintained in the 2024 revision as well, showing no change from the previous year.

Between the revisions, the most notable change occurred from 2017 to 2023, where the value increased by 49%. The overall change from the 2012 revision to the 2024 revision shows no percentage increase, as the value remains at Rs 400 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Sri Vigneshwara Nagar Extn is below this median.

• Sri Vigneshwara Nagar: Rs 400 per sq.ft (2024)
• Sri Thanga Ganesh Nagar: Rs 402 per sq.ft (2024)
• Sri Suraikai Chittar Nagar: Rs 400 per sq.ft (2024)
• Sri Shanmuga Nagar Phase-III: Rs 400 per sq.ft (2024)
• Subash Nagar: Rs 505 per sq.ft (2024)
• Sri Saravana Nagar Phase I: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vigneshwara Nagar Extn

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Vigneshwara Nagar Extn?

The Sri Vigneshwara Nagar Extn falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Orathur. It is used to determine the applicable stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the transaction is recorded accurately and fairly. This helps in maintaining transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Vigneshwara Nagar Extn?

The current guideline value of Sri Vigneshwara Nagar Extn is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2012 to 2024, with a notable increase of 49% from 2017 to 2023. The value was Rs 268 per sq.ft in 2017.

What is the land classification for Sri Vigneshwara Nagar Extn?

The land classification for Sri Vigneshwara Nagar Extn is Residential Special Type - I.

Which Sub Registrar Office covers this area?

The Gooduvancheri Sub Registrar Office covers Sri Vigneshwara Nagar Extn, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 at a rate of 7%.