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 Sattamangalam 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 of Vignesh Nagar (N) has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 660 per sq.ft, an increase from Rs 600 per sq.ft in the 2023 revision, marking a change of +10%. Prior to that, the 2017 revision recorded the value at Rs 402 per sq.ft, which reflects a significant increase of +49% to reach the 2023 figure. The 2012 revision also had a guideline value of Rs 600 per sq.ft, but there was a decrease of -33% to the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +10%. It is worth noting that the register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, which means that Vignesh Nagar (N) is below this median value.

• 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 660 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 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, and the registration fee at 2% would be Rs 13,200, making the total cost for these fees Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more information.

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. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the property transaction process.

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 2023 to Rs 660 per sq.ft in 2024, a +10% increase. It was Rs 402 per sq.ft in 2017, which shows a +49% increase to the 2023 figure.

What are the other streets with guideline values in Sattamangalam?

Other streets in Sattamangalam include Vijayanaidu Street at Rs 550 per sq.ft, Villier Colony at Rs 440 per sq.ft, and Villier Street Sattamangalam at Rs 660 per sq.ft, among others.

What is the stamp duty rate for properties in Vignesh Nagar (N)?

The stamp duty rate for properties in Vignesh Nagar (N) is 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200.

Where can I find the Sub Registrar Office for Vignesh Nagar (N)?

The Sub Registrar Office for Vignesh Nagar (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by visiting the appropriate link.