Guideline Value for Sri Vigneshwara Nagar

Sri Vigneshwara Nagar guideline value

The current guideline value of Sri Vigneshwara Nagar 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 street is Residential Special Type - I.

How the guideline value of Sri Vigneshwara Nagar has changed

The guideline value for Sri Vigneshwara Nagar has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012. However, it then decreased to Rs 268 per sq.ft in 2017. From 2017 to 2023, the value rose to Rs 400 per sq.ft, and it remained unchanged at Rs 400 per sq.ft from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 167%. The changes between revisions include a 167% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023.

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 of Sri Vigneshwara Nagar is below this median.

• Sri Vigneshwara Nagar Extn: 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

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. 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 Vigneshwara Nagar?

The Sub Registrar Office that covers Sri Vigneshwara Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 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 of properties in Orathur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared with the sale price. 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 Vigneshwara Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 150 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreasing to Rs 268 per sq.ft in 2017, and remaining at Rs 400 per sq.ft in 2023 and 2024.

Which Sub Registrar Office covers this area?

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

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Sri Vigneshwara Nagar is calculated at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the same.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to know the guideline value to ensure that they comply with legal requirements when registering a property.