Guideline Value for VIGNESH NAGAR

Vignesh Nagar guideline value

The current guideline value of Vignesh Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Ariyanvoyal village under the Ponneri SRO and is classified as Residential Class II Type - I.

How the guideline value of Vignesh Nagar has changed

The guideline value for Vignesh Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 300 per sq.ft, which then decreased to Rs 201 per sq.ft in 2017. Following this, the value increased significantly to Rs 300 per sq.ft in 2023, and finally reached Rs 330 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, while the increase from 2017 to 2023 was 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Ariyanvoyal

Ariyanvoyal has 26 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 880 per sq.ft, with the median value being Rs 330 per sq.ft. Vignesh Nagar's current guideline value aligns with this median.

• Union Carbide Employees Co-Operative Nagar: Rs 600 per sq.ft (2024)
• T.H.Road: Rs 440 per sq.ft (2024)
• Thirupathy Nagar: Rs 440 per sq.ft (2024)
• Thangavelpuram: Rs 440 per sq.ft (2024)
• Sri Lakshmi Avenue: Rs 330 per sq.ft (2024)
• Singaraswami Nagar: Rs 330 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, the guideline value is Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Ariyanvoyal. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. Buyers and sellers must be aware of these values to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Vignesh Nagar?

The current guideline value of Vignesh Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023, and finally reached Rs 330 per sq.ft in 2024.

What is the land classification of Vignesh Nagar?

Vignesh Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated for property in Vignesh Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty and registration fee of Rs 29,700.