Guideline Value for VIGNESH NAGAR

Vignesh Nagar guideline value

The current guideline value of Vignesh Nagar, located in Villiyampakkam village under the Chengleput Joint II SRO, is Rs 401 per sq.ft. This value is effective from 1 July 2024 and falls under the Mixed Special Type - II land classification.

How the guideline value of Vignesh Nagar has changed

The guideline value for Vignesh Nagar has undergone several revisions over the years. The earliest available revision is from 2007, where the value was set at Rs 50 per sq.ft. This figure increased significantly to Rs 400 per sq.ft in 2012, marking a 700% increase. However, from 2012 to 2017, the value decreased to Rs 268 per sq.ft, a drop of 33%. The value then rose to Rs 400 per sq.ft in 2023, before reaching the current rate of Rs 401 per sq.ft in 2024, showing no change from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, the guideline value has increased by 702% from the 2007 figure to the current 2024 figure.

Guideline values in Villiyampakkam

In Villiyampakkam, there are 17 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 401 to Rs 950 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Vignesh Nagar is below this median.

• Sukra Avenue: Rs 401 per sq.ft (2024)
• Subhlabh Avenue: Rs 450 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 450 per sq.ft (2024)
• Sri Durga Nagar: Rs 401 per sq.ft (2024)
• Senthoore Avenue: Rs 500 per sq.ft (2024)
• Sakthi Veerammal Nagar: Rs 401 per sq.ft (2024)

Stamp duty and registration fee for property in Vignesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 401 per sq.ft, the total guideline value amounts to Rs 4,01,000. The stamp duty at 7% would be Rs 28,070, and the registration fee at 2% would be Rs 8,020, making the total cost for these fees Rs 36,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vignesh Nagar?

The Sub Registrar Office that covers Vignesh Nagar 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 Villiyampakkam

The guideline value is a critical factor in property transactions in Villiyampakkam, as it determines the minimum value at which properties can be registered. This value influences the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When selling property, the guideline value serves as a benchmark for pricing. It ensures that all transactions are conducted transparently and fairly, preventing undervaluation of properties during registration.

Frequently asked questions

What is the current guideline value of Vignesh Nagar?

The current guideline value of Vignesh Nagar is Rs 401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 50 per sq.ft in 2007 to Rs 401 per sq.ft in 2024, marking an overall increase of 702%.

What are the other streets in Villiyampakkam with guideline values?

Other streets in Villiyampakkam include Sukra Avenue, Subhlabh Avenue, Sri Srinivasa Nagar, Sri Durga Nagar, Senthoore Avenue, and Sakthi Veerammal Nagar, with values ranging from Rs 401 to Rs 500 per sq.ft in 2024.

How is stamp duty calculated for properties in Vignesh Nagar?

Stamp duty for properties in Vignesh Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 4,01,000 would incur a stamp duty of Rs 28,070 at 7%.

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

The Sub Registrar Office for Vignesh Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information online.