Guideline Value for VIGNESH NAGAR

Vignesh Nagar guideline value

The current guideline value of Vignesh Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This locality is situated in Asuoor village, under the Walajabad Sub Registrar Office (SRO), and is classified as Residential Special Type - I.

How the guideline value of Vignesh Nagar has changed

Over the years, the guideline value for Vignesh Nagar has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft, marking a -33% change. In the 2023 revision, the value returned to Rs 100 per sq.ft, and it has remained the same in the 2024 revision, showing a 0% change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 100 per sq.ft.

Guideline values in Asuoor

In Asuoor village, five streets under the Walajabad SRO have a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft, with a median value of Rs 100 per sq.ft. Vignesh Nagar's 2024 figure aligns with this median value.

• Sukibhava City: Rs 100 per sq.ft (2024)
• Leela Nagar: Rs 150 per sq.ft (2024)
• Aarthi Nagar: Rs 100 per sq.ft (2024)
• Santha Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Vignesh Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vignesh Nagar?

The Walajabad Sub Registrar Office covers Vignesh Nagar, located at Sriperumbudur Road, Walajabad-631 605, 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 Asuoor

The guideline value plays a crucial role during property registration in Asuoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate applicable fees such as stamp duty and registration charges. This ensures that both parties are aware of the financial implications associated with the property transaction.

Frequently asked questions

What is the current guideline value of Vignesh Nagar?

The current guideline value of Vignesh Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed in recent years?

The guideline value has remained at Rs 100 per sq.ft from 2023 to 2024, and it has also stayed the same since 2012. There was a decrease to Rs 67 per sq.ft in 2017, but it returned to Rs 100 per sq.ft in 2023.

What is the land classification of Vignesh Nagar?

Vignesh Nagar is classified as Residential Special Type - I, which indicates its suitability for residential purposes.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vignesh Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 at a rate of 7%.