Guideline Value for Vignesh Avenue

Vignesh Avenue guideline value

The current guideline value of Vignesh Avenue 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 has changed

The guideline value for Vignesh Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. In the subsequent 2023 revision, the value increased to Rs 1,200 per sq.ft, and the latest 2024 revision has raised it further to Rs 1,300 per sq.ft.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 shows an 8% increase. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Selaiyur

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

• Vignesh Avenue Ext: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the 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?

The Sub Registrar Office that covers Vignesh Avenue 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 details.

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 stamp duty and registration fees that must be paid during the sale or purchase process.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Vignesh Avenue?

The current guideline value of Vignesh Avenue 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 of Vignesh Avenue?

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

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 property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.