Guideline Value for Sri Vigneshwarar Nagar

Sri Vigneshwarar Nagar guideline value

The current guideline value for Sri Vigneshwarar Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Kavanur village, under the Gooduvancheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Vigneshwarar Nagar has changed

Looking back at the revisions, the guideline value for Sri Vigneshwarar Nagar has seen several changes over the years. In the 2007 revision, the value was Rs 60 per sq.ft, which increased significantly to Rs 600 per sq.ft in the 2012 revision, marking a remarkable increase of 900%. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, a decline of 33%. The 2017 revision then saw a rise to Rs 600 per sq.ft in 2023, with no change in the 2024 revision, maintaining the value at Rs 600 per sq.ft.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 900%.

Guideline values in Kavanur

In Kavanur, there are 109 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 500 to Rs 2,239 per sq.ft. The median guideline value in this area is Rs 800 per sq.ft, which means that the guideline value for Sri Vigneshwarar Nagar is below this median.

• Sri Varalakshmi Nagar Extension: Rs 1,000 per sq.ft (2024)
• Sri Varalakshmi Nagar: Rs 600 per sq.ft (2024)
• Subramanyapuram: Rs 600 per sq.ft (2024)
• Sri Sai Santhi Nagar Phase -II: Rs 1,000 per sq.ft (2024)
• Sri Sai Santhi Nagar Phase -I: Rs 670 per sq.ft (2024)
• Sukra Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vigneshwarar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total cost to Rs 54,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Sri Vigneshwarar Nagar?

The Sub Registrar Office that covers Sri Vigneshwarar 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 Kavanur

When buying or selling property in Kavanur, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a basis for calculating these fees, ensuring that they are consistent and transparent.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. This value is updated periodically, reflecting changes in the real estate market, and is important for proper documentation during the registration process.

Frequently asked questions

What is the current guideline value of Sri Vigneshwarar Nagar?

The current guideline value of Sri Vigneshwarar Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and has remained at Rs 600 per sq.ft in the revisions of 2023 and 2024.

What is the land classification of Sri Vigneshwarar Nagar?

Sri Vigneshwarar Nagar is classified as Residential Class I Type - I.

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

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

How is the stamp duty calculated for properties in Sri Vigneshwarar Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 42,000.