Guideline Value for VINGNESWARA NAGAR

Vingneswara Nagar guideline value

The current guideline value of Vingneswara Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Eraiyamangalam village under the Perambakkam SRO and is classified as Residential Class II Type - I.

How the guideline value of Vingneswara Nagar has changed

The guideline value for Vingneswara Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision recorded a lower value of Rs 100 per sq.ft, marking a decrease of 33% from the previous figure. The most recent revision in 2024 has returned the guideline value to Rs 150 per sq.ft, reflecting no change from the 2023 revision.

In summary, from 2017 to 2023, there was a significant increase of 50%, while the overall change from the 2012 revision to the 2024 revision shows no net change. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Eraiyamangalam

In Eraiyamangalam, there are five streets under the Perambakkam SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 300 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Vingneswara Nagar's 2024 figure below that median.

• Sri Guru Raja Nagar: Rs 200 per sq.ft (2024)
• Jayaraj Garden: Rs 200 per sq.ft (2024)
• Dheshwa Nagar: Rs 300 per sq.ft (2024)
• Sri Purnaprajna Nagar: Rs 240 per sq.ft (2024)

Stamp duty and registration fee for property in Vingneswara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty, charged at 7%, would be Rs 10,500, while the registration fee at 2% would be Rs 3,000, bringing the total to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vingneswara Nagar?

The Sub Registrar Office that covers Vingneswara Nagar is the Perambakkam Sub Registrar Office, located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone.

You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Eraiyamangalam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the Registration Department.

When a property is sold, the guideline value is used to assess the applicable duties, which are charged on the higher of the guideline value or the sale price. This ensures that the registration process is transparent and fair, reflecting the official value of the property.

Frequently asked questions

What is the current guideline value of Vingneswara Nagar?

The current guideline value of Vingneswara Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most recent being Rs 150 per sq.ft in 2024, which is the same as in 2023. The value was Rs 100 per sq.ft in 2017 and Rs 150 per sq.ft in 2012.

What are the other streets in Eraiyamangalam?

Other streets in Eraiyamangalam include Sri Guru Raja Nagar, Jayaraj Garden, Dheshwa Nagar, and Sri Purnaprajna Nagar, with guideline values ranging from Rs 200 to Rs 300 per sq.ft in 2024.

What is the stamp duty rate for property in Vingneswara Nagar?

The stamp duty rate for property in Vingneswara Nagar is 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2%.

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

The Sub Registrar Office covering Vingneswara Nagar is located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone.