Guideline Value for VIGNESWARA NAGAR

Vigneswara Nagar guideline value

The current guideline value of Vigneswara Nagar is Rs 226 per sq.ft, effective from 1 July 2024. This area is located in Kizhnallathur & Melnallathur village, under the jurisdiction of the Manavalanagar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vigneswara Nagar has changed

The guideline value for Vigneswara Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 226 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the value was Rs 151 per sq.ft, showing a significant increase of 50% from 2017 to 2023. In 2012, the value was Rs 225 per sq.ft, indicating a decrease of 33% to the 2017 figure. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 226 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The available figures indicate a consistent evaluation process, reflecting the area's value over time.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Vigneswara Nagar's 2024 figure below that median.

• Vidhya Nagar: Rs 250 per sq.ft (2024)
• Vetri Nagar: Rs 300 per sq.ft (2024)
• Winwilla Nagar: Rs 250 per sq.ft (2024)
• Vasathi Nagar: Rs 200 per sq.ft (2024)
• Vaishnavi Nagar: Rs 250 per sq.ft (2024)
• Thirumalai Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneswara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 226 per sq.ft, the total guideline value amounts to Rs 2,26,000. The stamp duty at 7% would be Rs 15,820, and the registration fee at 2% would be Rs 4,520, totaling Rs 20,340. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vigneswara Nagar?

The Sub Registrar Office that covers Vigneswara Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value is a crucial factor during the registration of property transactions in Kizhnallathur & Melnallathur. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both buyers and sellers understand the financial implications of the transaction. It is essential for ensuring that all parties are aware of the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Vigneswara Nagar?

The current guideline value of Vigneswara Nagar is Rs 226 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 226 per sq.ft from 2023 to 2024. It increased from Rs 151 per sq.ft in 2017 to Rs 226 per sq.ft in 2023, marking a 50% increase. From 2012 to 2017, it decreased from Rs 225 per sq.ft to Rs 151 per sq.ft.

What is the land classification for Vigneswara Nagar?

Vigneswara Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Vigneswara Nagar?

The Sub Registrar Office for Vigneswara Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai.

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

For a property valued at Rs 2,26,000, the stamp duty would be Rs 15,820 and the registration fee would be Rs 4,520, totaling Rs 20,340. The duty is charged on the higher of the guideline value or the sale price.