Guideline Value for VIGNESWAR NAGAR

Vigneswar Nagar guideline value

The current guideline value of Vigneswar Nagar is Rs 220 per sq.ft, effective from 1 July 2024. This locality is situated in Vallur village, under the jurisdiction of the Thiruvottiyur SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Vigneswar Nagar has changed

The guideline value for Vigneswar Nagar has undergone several revisions over the years. The earliest recorded revision was in 2017, with a guideline value of Rs 134 per sq.ft. This value increased significantly to Rs 200 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 220 per sq.ft, a further increase of 10% from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for Vigneswar Nagar. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Vallur

In Vallur village, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft. The median guideline value for these streets is Rs 220 per sq.ft, which is the same as the guideline value for Vigneswar Nagar.

• Vijayalakshmi Nagar: Rs 220 per sq.ft (2024)
• Vijay Nagar: Rs 220 per sq.ft (2024)
• Vinayagar Nagar: Rs 220 per sq.ft (2024)
• V.M.S. Nagar: Rs 220 per sq.ft (2024)
• V.R.Bahavan Nagar: Rs 330 per sq.ft (2024)
• Velankanni Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneswar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total cost for these fees to Rs 19,800. 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 Vigneswar Nagar?

The Sub Registrar Office that covers Vigneswar Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Vallur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, buyers must consider the guideline value to ensure compliance with local regulations. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is accurately documented.

Frequently asked questions

What is the current guideline value of Vigneswar Nagar?

The current guideline value of Vigneswar Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, and then to Rs 220 per sq.ft in 2024. This reflects an overall increase of 64% from 2017 to 2024.

Which Sub Registrar Office is responsible for Vigneswar Nagar?

The Thiruvottiyur Sub Registrar Office is responsible for Vigneswar Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the stamp duty and registration fees for a property in Vigneswar Nagar?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 19,800. This includes a stamp duty of Rs 15,400 and a registration fee of Rs 4,400.

Where can I find more information about stamp duty and registration fees?

More information about stamp duty and registration fees can be found using the stamp duty and registration fee calculator.