Guideline Value for VIGNESWARA NAGAR 2ND STREET

Vigneswara Nagar 2nd Street guideline value

The current guideline value of Vigneswara Nagar 2nd 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 is classified as Residential Class II Type - III.

How the guideline value of Vigneswara Nagar 2nd Street has changed

The guideline value for Vigneswara Nagar 2nd Street has seen a significant increase from Rs 1,340 per sq.ft in the 2017 revision to Rs 2,200 per sq.ft in the 2024 revision, which represents a change of +64%. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. The current value of Rs 2,200 per sq.ft in 2024 is equal to the median value of Rs 2,200 per sq.ft for the 754 streets in Sholinganallur - 1 under the Neelankarai SRO.

Guideline values in Sholinganallur - 1

The guideline values for various streets in Sholinganallur - 1 range from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. Vigneswara Nagar 2nd Street's 2024 figure matches this median.

• Vigneswara Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vigneswara Nagar 2nd Street?

The Sub Registrar Office that covers Vigneswara Nagar 2nd 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 details.

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 helps determine the stamp duty and registration fees that are payable when buying or selling property.

When a property is bought or sold, the guideline value serves as a reference point for calculating the applicable charges. It ensures that the transaction is recorded accurately and that the appropriate fees are collected by the registration authorities.

Frequently asked questions

What is the current guideline value of Vigneswara Nagar 2nd Street?

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

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, which is a change of +64%.

What is the land classification of Vigneswara Nagar 2nd Street?

Vigneswara Nagar 2nd Street is classified as Residential Class II Type - III.

Which office handles registrations for Vigneswara Nagar 2nd Street?

The Neelankarai Sub Registrar Office handles registrations for Vigneswara Nagar 2nd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Vigneswara Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 1,98,000 in stamp duty and registration fees.