Guideline Value for Sri Vigneswara Nagar

Sri Vigneswara Nagar guideline value

The current guideline value of Sri Vigneswara Nagar, located in Poonthamallee village under the Poonamallee SRO, is Rs 2,200 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 Vigneswara Nagar has changed

The guideline value for Sri Vigneswara Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 750 per sq.ft. It increased significantly to Rs 2,000 per sq.ft in 2012, marking a 167% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, reflecting a 33% drop. The value then rose sharply to Rs 2,000 per sq.ft in 2023, a 49% increase, before reaching the current value of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that 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 193%.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Sri Vigneswara Nagar.

• Sri Virushni Nagar: Rs 2,740 per sq.ft (2024)
• Sri Vishnu nagar: Rs 2,200 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 2,200 per sq.ft (2024)
• Sri Shrinivasa nagar 536,537,538: Rs 2,200 per sq.ft (2024)
• Sumithra nagar: Rs 2,200 per sq.ft (2024)
• Sri Rajeswari nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vigneswara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Vigneswara Nagar?

The Sub Registrar Office that covers Sri Vigneswara Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

Frequently asked questions

What is the current guideline value of Sri Vigneswara Nagar?

The current guideline value of Sri Vigneswara Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What is the land classification for Sri Vigneswara Nagar?

Sri Vigneswara Nagar is classified under Residential Class II Type - I land classification.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Where is the Sub Registrar Office for Sri Vigneswara Nagar located?

The Sub Registrar Office for Sri Vigneswara Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.