Guideline Value for VIGNARAJAPURAM

Vignarajapuram guideline value

The current guideline value of Vignarajapuram is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village under the Selaiyur SRO, classified as Industries Special Type - I.

How the guideline value of Vignarajapuram has changed

The guideline value for Vignarajapuram has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 3,000 per sq.ft. This value saw a decrease to Rs 2,010 per sq.ft in 2017, followed by an increase to Rs 3,000 per sq.ft in 2023, and finally reaching Rs 3,300 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO with 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, placing Vignarajapuram's current value above this median.

• Vignarajapuram 4th Street Extension: Rs 2,350 per sq.ft (2024)
• Vignarajapuram Extension: Rs 2,350 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vignarajapuram?

The Sub Registrar Office that covers Vignarajapuram is 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. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Vengaivasal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as per the official register. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Vignarajapuram?

The current guideline value of Vignarajapuram is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Vignarajapuram?

Vignarajapuram is classified as Industries Special Type - I, which indicates its suitability for industrial activities.

What are the stamp duty rates for property in Vignarajapuram?

The stamp duty rate for property transactions in Vignarajapuram is 7% of the guideline value or the sale price, whichever is higher.

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.