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 Panangottur village under the Chengleput Joint II SRO, 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 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 600 per sq.ft, and the latest revision in 2024 has raised it further to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 990 per sq.ft, placing Vignesh Nagar (N) below this median.

• Vijayanaidu Street (Ward -17): Rs 550 per sq.ft (2024)
• Villier Colony (Ward -2): Rs 440 per sq.ft (2024)
• Villier Street Sattamangalam (Ward -15): Rs 440 per sq.ft (2024)
• Villiery Palayam (Ward -15): Rs 440 per sq.ft (2024)
• Vgn Southern Colony (Kr): Rs 1,980 per sq.ft (2024)
• Vethanayagam Street(Ward -8): Rs 1,760 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 rate of Rs 660 per sq.ft, the guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using 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 Panangottur

The guideline value is a crucial factor in the registration of property transactions in Panangottur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions, as it reflects the official valuation set by the government.

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

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling 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.

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

Vignesh Nagar (N) is classified as Residential Class I Type - III, indicating its suitability for residential development.