Guideline Value for VISHWA NAGAR

Vishwa Nagar guideline value

The current guideline value of Vishwa Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Thimmaiyanpettai village, under the Walajabad Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Vishwa Nagar has changed

The guideline value of Vishwa Nagar has seen several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 300 per sq.ft. This was followed by a decrease to Rs 201 per sq.ft in 2017, marking a drop of 33%. However, from 2017 to 2023, the value increased significantly to Rs 300 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has set the guideline value at Rs 330 per sq.ft, which is an increase of 10% from the previous year.

It is important to note that there are no recorded figures for Vishwa Nagar in the revisions from 2002, 2003, and 2007.

Guideline values in Thimmaiyanpettai

In Thimmaiyanpettai, four streets are listed under the Walajabad SRO with a 2024 guideline value ranging from Rs 220 to Rs 330 per sq.ft. The median value for these streets is Rs 248 per sq.ft, and Vishwa Nagar's 2024 figure is above this median.

• Sri Prasanna Nagar: Rs 220 per sq.ft (2024)
• Anna Nagar: Rs 220 per sq.ft (2024)
• Annai Nagar: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Vishwa Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vishwa Nagar?

The Sub Registrar Office that covers Vishwa Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thimmaiyanpettai. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the registration process.

When a property is registered, the guideline value is considered the benchmark for calculating the applicable duties. This ensures that the transaction is documented accurately and reflects the official valuation of the property.

Frequently asked questions

What is the current guideline value of Vishwa Nagar?

The current guideline value of Vishwa Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What is the land classification of Vishwa Nagar?

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

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vishwa Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,30,000, the stamp duty at 7% would be Rs 23,100.