Guideline Value for VISHVANATHANAGAR

Vishvanathanagar guideline value

The current guideline value of Vishvanathanagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village and falls under the Selaiyur SRO. The land classification for this street is Mixed Type - II.

How the guideline value of Vishvanathanagar has changed

The guideline value for Vishvanathanagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,700 per sq.ft. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 shows a slight increase of 8% in the guideline value.

Guideline values in Vengaivasal

In Vengaivasal village, there are 117 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the guideline value of Vishvanathanagar.

• Vishwanathapuram: Rs 2,700 per sq.ft (2024)
• Viswanathanpuram: Rs 2,700 per sq.ft (2024)
• Visalakshi Nagar: Rs 2,700 per sq.ft (2024)
• Vinayaga Nagar Part-I: Rs 2,750 per sq.ft (2024)
• V.S. Naidu Nagar: Rs 2,200 per sq.ft (2024)
• Yafa Springs: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vishvanathanagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty is charged at 7%, resulting in Rs 1,89,000, while the registration fee at 2% comes to Rs 54,000. The total cost for these fees together is Rs 2,43,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Vishvanathanagar?

The Sub Registrar Office that covers Vishvanathanagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengaivasal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the official value set by the government. This helps in maintaining transparency and consistency in property transactions within the area.

Frequently asked questions

What is the current guideline value of Vishvanathanagar?

The current guideline value of Vishvanathanagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What are the other streets in Vengaivasal with similar guideline values?

Other streets in Vengaivasal with similar guideline values include Vishwanathapuram, Viswanathanpuram, and Visalakshi Nagar, all at Rs 2,700 per sq.ft in 2024.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Vishvanathanagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.