Guideline Value for VIGNESWARA NAGAR 1ST STREET

Vigneswara Nagar 1st Street guideline value

The current guideline value of Vigneswara Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, and it falls under the Residential Class II Type - III land classification.

How the guideline value of Vigneswara Nagar 1st Street has changed

The guideline value for Vigneswara Nagar 1st Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. The most recent 2024 revision increased this to Rs 2,200 per sq.ft, reflecting a significant change of +64% from the previous figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street in the register.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Vigneswara Nagar 1st Street.

• Vigneswara Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Vigneswara Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Vigneswara Nagar Main Street: Rs 2,200 per sq.ft (2024)
• V.G.P. West Part Main Road: Rs 5,500 per sq.ft (2024)
• Vijaya Nagar: Rs 2,200 per sq.ft (2024)
• V.G.P.South Part - VIII: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneswara Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please 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 further assistance.

Which Sub Registrar Office covers Vigneswara Nagar 1st Street?

The Sub Registrar Office that covers Vigneswara Nagar 1st Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor during the registration of property transactions in Sholinganallur - 1. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value helps both parties understand the value of the property being exchanged. It serves as a reference point for the legal documentation and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vigneswara Nagar 1st Street?

The current guideline value of Vigneswara Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an increase of +64%.

What is the land classification for Vigneswara Nagar 1st Street?

Vigneswara Nagar 1st Street is classified under Residential Class II Type - III land classification.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for property in Vigneswara Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.