Guideline Value for VISHNU NAGAR

Vishnu Nagar guideline value

The current guideline value of Vishnu Nagar, located in Mathuranthagam village under the Madurandakam SRO, is Rs 770 per sq.ft, effective from the 2024 revision.

How the guideline value of Vishnu Nagar has changed

Over the years, the guideline value for Vishnu Nagar has seen several revisions. The 2007 revision set the value at Rs 3,005 per sq.ft, which was then reduced to Rs 700 per sq.ft in the 2012 revision, marking a significant decrease of 77%. In 2017, the value increased to Rs 469 per sq.ft, and by the 2023 revision, it rose to Rs 700 per sq.ft, reflecting a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 770 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 figure, there has been a decrease of 74% in the guideline value per sq.ft.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft, with a median value of Rs 1,100 per sq.ft. Vishnu Nagar's 2024 guideline value of Rs 770 per sq.ft is below this median.

• Viruksham Avenue: Rs 775 per sq.ft (2024)
• V J K Nagar: Rs 1,110 per sq.ft (2024)
• V.S.N.Avenue: Rs 1,110 per sq.ft (2024)
• Vijaya Vishnu Nagar Phase-II: Rs 775 per sq.ft (2024)
• Vijaya Vishnu Nagar: Rs 770 per sq.ft (2024)
• VENGATESWARA NAGAR (190/1a/1a2b/1b): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vishnu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vishnu Nagar?

The Sub Registrar Office that covers Vishnu Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mathuranthagam. It serves as a basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value will determine the minimum price at which the property can be registered. This means that if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Vishnu Nagar?

The current guideline value of Vishnu Nagar is Rs 770 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 3,005 per sq.ft in 2007, decreasing to Rs 700 per sq.ft in 2012, and then fluctuating to Rs 770 per sq.ft in 2024.

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

The stamp duty rate for property in Vishnu Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the median guideline value in Mathuranthagam?

The median guideline value in Mathuranthagam is Rs 1,100 per sq.ft, with Vishnu Nagar's value being below this median at Rs 770 per sq.ft.