Guideline Value for VIGNESH STREET

Vignesh Street guideline value

The current guideline value of Vignesh Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chitthalapakkam village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Vignesh Street has changed

The guideline value for Vignesh Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while the overall change from 2012 to 2024 shows an increase of 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Vignesh Street.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median guideline value is Rs 2,900 per sq.ft, placing Vignesh Street's 2024 value below this median.

• Vigneshpuram: Rs 2,700 per sq.ft (2024)
• Victorya Avenue: Rs 2,700 per sq.ft (2024)
• Vijayapuram: Rs 2,900 per sq.ft (2024)
• Vijayapuram Extension: Rs 2,900 per sq.ft (2024)
• Vijay Avenue: Rs 2,900 per sq.ft (2024)
• Vijay Avenue 4th Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vignesh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. 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 more detailed calculations.

Which Sub Registrar Office covers Vignesh Street?

The Sub Registrar Office that covers Vignesh Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chitthalapakkam

The guideline value plays a crucial role in property transactions in Chitthalapakkam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vignesh Street?

The current guideline value of Vignesh Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Vignesh Street?

Vignesh Street is classified as Residential Special Type - I under the Selaiyur SRO.

What are the stamp duty and registration fees for properties on Vignesh Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.