Guideline Value for Vignesh Avenue Extn

Vignesh Avenue Extn guideline value

The current guideline value of Vignesh Avenue Extn is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Gooduvancheri SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Vignesh Avenue Extn has changed

The guideline value for Vignesh Avenue Extn has experienced several revisions over the years. The earliest recorded revision was in 2007, with a value of Rs 275 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a substantial rise of 336%. However, by 2017, the value decreased to Rs 804 per sq.ft, a drop of 33%. The value then rose again to Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 336%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. Vignesh Avenue Extn's 2024 figure aligns with this median value.

• Vignesh Avenue: Rs 1,200 per sq.ft (2024)
• Vijay Gopal Nagar: Rs 1,200 per sq.ft (2024)
• Vijay Nagar: Rs 1,200 per sq.ft (2024)
• Vimala nagar: Rs 800 per sq.ft (2024)
• Vimal Nagar: Rs 1,200 per sq.ft (2024)
• Vettrivel Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vignesh Avenue Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total cost for these fees to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vignesh Avenue Extn?

The Vignesh Avenue Extn falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process for property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives an appropriate amount of revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vignesh Avenue Extn?

The current guideline value of Vignesh Avenue Extn is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 275 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, before returning to Rs 1,200 per sq.ft in 2023 and 2024.

What is the land classification for Vignesh Avenue Extn?

The land classification for Vignesh Avenue Extn is Commercial Special Type - I.

Where can I find the registration office for Vignesh Avenue Extn?

The registration office for Vignesh Avenue Extn is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vignesh Avenue Extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 12,00,000, the stamp duty at 7% would be Rs 84,000.