Guideline Value for VIGNARAJAPURAM EXTENSION

Vignarajapuram Extension guideline value

The current guideline value of Vignarajapuram Extension is Rs 2,350 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village and falls under the Selaiyur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Vignarajapuram Extension has changed

The guideline value for Vignarajapuram Extension has seen several revisions over the years. The oldest recorded value is from 2012, which was Rs 2,200 per sq.ft. This was followed by a decrease to Rs 1,474 per sq.ft in 2017. In 2023, the value increased to Rs 2,200 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,350 per sq.ft.

Between these revisions, there have been notable changes. From 2017 to 2023, the guideline value increased by 49%. However, from 2012 to 2017, it decreased by 33%. Overall, from 2012 to 2024, there has been a 7% increase. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, indicating that the guideline value for Vignarajapuram Extension is below the median.

• Vignarajapuram 4th Street Extension: Rs 2,350 per sq.ft (2024)
• Vignarajapuram: Rs 3,300 per sq.ft (2024)
• V G P Veerabadra Nagar Part II: Rs 2,700 per sq.ft (2024)
• V G P Veerabadra Nagar Part I: Rs 2,700 per sq.ft (2024)
• V G P Veerabadra Nagar: Rs 2,700 per sq.ft (2024)
• V.G.P.Santhanammal Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vignarajapuram Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,350 per sq.ft, the total guideline value would be Rs 23,50,000. The stamp duty at 7% would be Rs 1,64,500, and the registration fee at 2% would be Rs 47,000, bringing the total fees to Rs 2,11,500. It is important to note that 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 Vignarajapuram Extension?

The Vignarajapuram Extension falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property registration in Vengaivasal. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased. When a property is registered, the stamp duty and registration fees are calculated based on this guideline value or the actual sale price, whichever is higher.

This ensures that the government receives appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vignarajapuram Extension?

The current guideline value of Vignarajapuram Extension is Rs 2,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012, decreased to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,350 per sq.ft in 2024.

What is the land classification for Vignarajapuram Extension?

The land classification for Vignarajapuram Extension is Residential Class I Type - I.

What are the stamp duty and registration fees for property in Vignarajapuram Extension?

For a property valued at Rs 23,50,000, the stamp duty would be Rs 1,64,500 and the registration fee would be Rs 47,000, totaling Rs 2,11,500.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.