Guideline Value for VIGNESHPURAM

Vigneshpuram guideline value

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

How the guideline value of Vigneshpuram has changed

The guideline value for Vigneshpuram has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from Rs 1,675 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision raised it to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitthalapakkam

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

• Vignesh Street: 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 Vigneshpuram

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, resulting in a total of 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 use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vigneshpuram?

The Sub Registrar Office that covers Vigneshpuram 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 is a crucial factor when registering property in Chitthalapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is aligned with the current market standards as reflected in the guideline values.

Frequently asked questions

What is the current guideline value of Vigneshpuram?

The current guideline value of Vigneshpuram 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 2023 to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase. It was Rs 1,675 per sq.ft in 2017, which shows a significant increase of 49% to the 2023 figure.

What are the other streets in Chitthalapakkam with similar guideline values?

Other streets in Chitthalapakkam include Vignesh Street and Victorya Avenue, both at Rs 2,700 per sq.ft in 2024. Vijayapuram and its extension, along with Vijay Avenue, have higher values at Rs 2,900 per sq.ft.

What fees are associated with buying property in Vigneshpuram?

When buying property in Vigneshpuram, the stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Vigneshpuram?

The Selaiyur Sub Registrar Office covers Vigneshpuram and is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073. You can find your SRO for more details.