Guideline Value for VISHNU GARDEN

Vishnu Garden guideline value

The current guideline value of Vishnu Garden, located in Sholinganallur - 1 village under the Neelankarai SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class V Type - II.

How the guideline value of Vishnu Garden has changed

The guideline value for Vishnu Garden has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 502 per sq.ft. This figure increased to Rs 1,000 per sq.ft in the 2023 revision, marking a 99% increase. The current 2024 revision maintains this value at Rs 1,000 per sq.ft, showing no change from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 99%.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Vishnu Garden's 2024 figure below that median.

• Vivkanathan Garden: Rs 1,700 per sq.ft (2024)
• Village Road 1st Lane: Rs 2,200 per sq.ft (2024)
• Village Main Road 9th Street: Rs 2,200 per sq.ft (2024)
• Village Main Road 9th Cross Street: Rs 2,200 per sq.ft (2024)
• Village Main Road 8th Street: Rs 2,200 per sq.ft (2024)
• Village Main Road 8th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vishnu Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, leading to a total of Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vishnu Garden?

The Vishnu Garden area falls under 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 plays a crucial role in the registration process when buying or selling property in Sholinganallur - 1. It serves as a basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property transaction occurs, the buyer must pay the applicable stamp duty and registration fees based on the guideline value. This value is essential for both buyers and sellers to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Vishnu Garden?

The current guideline value of Vishnu Garden is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 502 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023 and remains at this figure in 2024, showing a 99% increase overall from 2017 to 2024.

What are the guideline values of other streets in Sholinganallur - 1?

Other streets in Sholinganallur - 1 have varying guideline values, ranging from Rs 1,700 to Rs 2,200 per sq.ft, with Vishnu Garden's value being below the median of Rs 2,200 per sq.ft.

What are the stamp duty and registration fees for property in Vishnu Garden?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000, and the registration fee would be Rs 20,000, totaling Rs 90,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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