Guideline Value for VIGNESHWARAPURAM

Vigneshwarapuram guideline value

The current guideline value of Vigneshwarapuram is Rs 400 per sq.ft, effective from 1 July 2024. This area falls under Oorakadam village, governed by the Walajabad SRO, and is classified as Residential Class II Type - II.

How the guideline value of Vigneshwarapuram has changed

The guideline value for Vigneshwarapuram has seen several revisions over the years. The most recent revisions show that the guideline value was Rs 400 per sq.ft in both 2023 and 2024. In 2017, the value was Rs 268 per sq.ft, and in 2012, it was again Rs 400 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%, resulting in no overall change from 2012 to 2024, where the value remains at Rs 400 per sq.ft.

Guideline values in Oorakadam

In addition to Vigneshwarapuram, there are other streets in Oorakadam under the Walajabad SRO. The guideline value for these streets is as follows:

• Gangai Amman Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneshwarapuram

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value would be Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that 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 Vigneshwarapuram?

The Sub Registrar Office that covers Vigneshwarapuram is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Oorakadam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the buying or selling process.

When a property is sold, the higher value between the guideline value and the sale price is used to calculate the applicable duties. Therefore, understanding the guideline value is essential for both buyers and sellers to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Vigneshwarapuram?

The current guideline value of Vigneshwarapuram is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft in 2023 and 2024, increased from Rs 268 per sq.ft in 2017, and was Rs 400 per sq.ft in 2012. There are no figures available for the years 2002, 2003, and 2007.

What are the stamp duty and registration fees in Vigneshwarapuram?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a plot of 1,000 sq.ft, the total cost for these fees would be Rs 36,000, based on the current guideline value.

Where is the Walajabad Sub Registrar Office located?

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

What is the land classification of Vigneshwarapuram?

Vigneshwarapuram is classified as Residential Class II Type - II according to the registration guidelines.