Guideline Value for VIGNESH NAGAR (N)

Vignesh Nagar (N) guideline value

The current guideline value of Vignesh Nagar (N) is Rs 661 per sq.ft, effective from 1 July 2024. This area is located in Peramanoor village and falls under the Chengleput Joint II SRO. The land classification for this street is 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 register shows no figures for the years 2002, 2003, and 2007. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged in the 2023 revision. The 2017 revision saw a decrease to Rs 402 per sq.ft, but this was followed by an increase to Rs 600 per sq.ft in 2023, representing a 49% rise from the 2017 figure.

With the 2024 revision, the guideline value increased again to Rs 661 per sq.ft, marking a 10% rise from the previous year. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Vignesh Nagar (N) below this median.

• Vignesh Garden: Rs 990 per sq.ft (2024)
• Vijayanaidu Street (Ward -17): Rs 660 per sq.ft (2024)
• Villier Colony (Ward -2): Rs 550 per sq.ft (2024)
• Villier Street Sattamangalam (Ward -15): Rs 550 per sq.ft (2024)
• Villiery Palayam (Ward -15): Rs 550 per sq.ft (2024)
• Vgn Southern Colony (Kr): Rs 1,980 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 661 per sq.ft, the total guideline value would be Rs 6,61,000. The stamp duty at 7% would amount to Rs 46,270, and the registration fee at 2% would be Rs 13,220, bringing the total fees together to Rs 59,490. It is important to note that the 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 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, 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 Peramanoor

The guideline value is a crucial factor in the registration process when buying or selling property in Peramanoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property transactions.

When a property is sold, the buyer and seller must consider the guideline value to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, which helps to ensure that the transaction is recorded accurately and fairly.

Frequently asked questions

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

The current guideline value of Vignesh Nagar (N) is Rs 661 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 661 per sq.ft in 2024, showing an overall increase of 10%. There were significant changes, including a rise of 49% from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023.

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 other streets have guideline values in Peramanoor?

Other streets in Peramanoor include Vignesh Garden at Rs 990 per sq.ft, Vijayanaidu Street (Ward -17) at Rs 660 per sq.ft, and Villier Colony (Ward -2) at Rs 550 per sq.ft, among others.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a total fee of Rs 59,490, including stamp duty and registration fees.