Guideline Value for VIGNESH NAGAR (N)

Vignesh Nagar (N) guideline value

The current guideline value of Vignesh Nagar (N) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Kattankollatur village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - III.

How the guideline value of Vignesh Nagar (N) has changed

The guideline value for Vignesh Nagar (N) has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was set at Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017, marking a significant drop of 33%. However, from 2017 to 2023, the value increased by 49% to reach Rs 600 per sq.ft. The most recent revision in 2024 saw an increase of 10%, bringing the current guideline value to Rs 660 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kattankollatur

In Kattankollatur, there are 453 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,612 per sq.ft, with a median value of Rs 1,100 per sq.ft. Vignesh Nagar (N) is below this median value.

• Vignesh Nagar Ninnaikarai (Ward -19): Rs 660 per sq.ft (2024)
• Vignesh Garden: Rs 1,100 per sq.ft (2024)
• V.G.R Nagar: Rs 660 per sq.ft (2024)
• Vijayanaidu Street (Ward -17): Rs 550 per sq.ft (2024)
• Vijayappa Naidu Street: Rs 440 per sq.ft (2024)
• Villier Colony (Ward -2): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Vignesh Nagar (N)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200. Together, the total cost for stamp duty and registration would be Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vignesh Nagar (N)?

The Sub Registrar Office that covers Vignesh Nagar (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kattankollatur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it can impact the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Vignesh Nagar (N)?

The current guideline value of Vignesh Nagar (N) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Vignesh Nagar (N)?

Vignesh Nagar (N) is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for property in Vignesh Nagar (N)?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would be Rs 59,400.

Which Sub Registrar Office covers Vignesh Nagar (N)?

The Chengleput Joint II Sub Registrar Office covers Vignesh Nagar (N), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.