Guideline Value for Vignesh Avenue Ext

Vignesh Avenue Ext guideline value

The current guideline value of Vignesh Avenue Ext is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class III Type - II.

How the guideline value of Vignesh Avenue Ext has changed

The guideline value for Vignesh Avenue Ext has undergone several revisions over the years. In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision. However, there was a significant increase in the 2023 revision, bringing the value back up to Rs 1,200 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Vignesh Avenue Ext's 2024 figure is below this median.

• Vignesh Avenue: Rs 1,300 per sq.ft (2024)
• Vijayalakshmi Street: Rs 1,300 per sq.ft (2024)
• V.G.N Milano Square: Rs 2,200 per sq.ft (2024)
• Vinayagarpuram: Rs 1,300 per sq.ft (2024)
• Venu Reddy Street: Rs 1,600 per sq.ft (2024)
• Vinobha Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vignesh Avenue Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vignesh Avenue Ext?

The Sub Registrar Office covering Vignesh Avenue Ext 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 here.

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

The guideline value is a crucial factor when registering property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that all transactions are conducted at a legally recognized price.

When you register a property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Vignesh Avenue Ext?

The current guideline value of Vignesh Avenue Ext is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Vignesh Avenue Ext?

Vignesh Avenue Ext is classified as Residential Class III Type - II.

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

Other streets in Selaiyur with similar guideline values include Vignesh Avenue and Vijayalakshmi Street, both at Rs 1,300 per sq.ft in 2024.

Where is the Selaiyur Sub Registrar Office located?

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