Guideline Value for VIGNESH NAGAR

Vignesh Nagar guideline value

The current guideline value of Vignesh Nagar, located in Minjur village under the Ponneri SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - I 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 recorded figure is Rs 536 per sq.ft from the 2017 revision. In 2023, this value increased to Rs 800 per sq.ft, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value further increase to Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft, with a median value of Rs 550 per sq.ft. Vignesh Nagar's 2024 guideline value of Rs 880 per sq.ft is above this median.

• Vijayalakshmi Nagar Ext: Rs 550 per sq.ft (2024)
• Vinayagam Nagar: Rs 880 per sq.ft (2024)
• Vinayagar Nagar: Rs 550 per sq.ft (2024)
• Venkata Reddi Palayam: Rs 550 per sq.ft (2024)
• V.O.C. Street: Rs 550 per sq.ft (2024)
• Venkadeswara Nagar: Rs 440 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

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 Minjur

The guideline value is a crucial factor in the registration of properties in Minjur, as it determines the minimum value at which properties can be sold or bought. When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall cost involved in property transactions. Accurate knowledge of these values ensures compliance with local regulations and helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Vignesh Nagar?

The current guideline value of Vignesh Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the other streets in Minjur with their guideline values?

Other streets in Minjur include Vijayalakshmi Nagar Ext at Rs 550 per sq.ft, Vinayagam Nagar at Rs 880 per sq.ft, and several others ranging from Rs 440 to Rs 880 per sq.ft.

What are the stamp duty and registration fees for properties in Vignesh Nagar?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles the registration for Vignesh Nagar?

The Ponneri Sub Registrar Office handles registrations for Vignesh Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.