Guideline Value for SriVigneshwara Nagar

SriVigneshwara Nagar guideline value

The current guideline value of SriVigneshwara Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Maathoor village under the Sunguvarchattram SRO and is classified as Residential Class III Type - I.

How the guideline value of SriVigneshwara Nagar has changed

The guideline value for SriVigneshwara Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft, reflecting a drop of 33%. Following that, the value increased by 50% to Rs 250 per sq.ft in the 2023 revision. The most recent revision in 2024 maintains this value at Rs 250 per sq.ft, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Maathoor

In Maathoor, there are 47 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 2,687 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for SriVigneshwara Nagar is below this median.

• Temple Green-ArunExcello: Rs 1,000 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 250 per sq.ft (2024)
• Town House Phase-II @ Temple Green: Rs 1,000 per sq.ft (2024)
• Sivan Kovil Street: Rs 505 per sq.ft (2024)
• Valluvar Street: Rs 500 per sq.ft (2024)
• Venkateshwara Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in SriVigneshwara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SriVigneshwara Nagar?

The SriVigneshwara Nagar area is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Maathoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are transparent and fair.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers are required to pay these fees based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of SriVigneshwara Nagar?

The current guideline value of SriVigneshwara Nagar is Rs 250 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 the most recent being Rs 250 per sq.ft in 2024, which is the same as in 2023. It decreased to Rs 167 per sq.ft in 2017 from Rs 250 per sq.ft in 2012.

What are the other streets in Maathoor and their guideline values?

Other streets in Maathoor have varying guideline values. For example, Temple Green-ArunExcello is Rs 1,000 per sq.ft, while Thiruvalluvar Nagar and Venkateshwara Nagar both have a guideline value of Rs 250 per sq.ft.

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

For a property valued at Rs 2,50,000, the stamp duty is Rs 17,500, and the registration fee is Rs 5,000, totaling Rs 22,500. These fees are based on the higher of the guideline value or the sale price.

Which office handles registrations for SriVigneshwara Nagar?

The Sunguvarchattram Sub Registrar Office handles registrations for SriVigneshwara Nagar, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.