Guideline Value for VIGNESH COLONY

Vignesh Colony guideline value

The current guideline value of Vignesh Colony in Puthur village is Rs 550 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Vignesh Colony has changed

Over the years, the guideline value for Vignesh Colony has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 500 per sq.ft again, and the most recent 2024 revision has raised it further to Rs 550 per sq.ft. The register has no figure for this street in 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The overall change from the 2012 revision to the 2024 revision is an increase of 10%.

Guideline values in Puthur

Puthur village has a total of 63 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 330 to Rs 4,600 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which means that Vignesh Colony's 2024 figure of Rs 550 per sq.ft is below the median.

• V.S.J.Nagar: Rs 1,650 per sq.ft (2024)
• United Colony: Rs 1,320 per sq.ft (2024)
• Thirumalai nagar Annex: Rs 1,100 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,100 per sq.ft (2024)
• Thanigaivel Nagar: Rs 330 per sq.ft (2024)
• Sunrise Avenue: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vignesh Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vignesh Colony?

The Sub Registrar Office that covers Vignesh Colony is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Puthur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vignesh Colony?

The current guideline value of Vignesh Colony is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Vignesh Colony?

Vignesh Colony is classified as Residential Class I Type - II under the guideline value register.

How does the guideline value compare to other streets in Puthur?

The guideline value of Rs 550 per sq.ft for Vignesh Colony is below the median value of Rs 1,100 per sq.ft for other streets in Puthur.

Where can I find the Sub Registrar Office for Vignesh Colony?

The Sub Registrar Office for Vignesh Colony is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.