Guideline Value for Vignesh Avenue

Vignesh Avenue guideline value

The current guideline value of Vignesh Avenue is Rs 770 per sq.ft. This street is located in Manimangalam A village, under the Padappai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vignesh Avenue has changed

The guideline value for Vignesh Avenue has undergone several revisions over the years. The earliest recorded revision is from 2017, where the value was Rs 469 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for Vignesh Avenue. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value in this area is Rs 880 per sq.ft, making the current value of Vignesh Avenue below that median.

• Vijayalakshmi Nagar: Rs 770 per sq.ft (2024)
• Vinayaga Nagar Extn 1 to 5: Rs 880 per sq.ft (2024)
• V.M.Nagar: Rs 770 per sq.ft (2024)
• Velankanni Nagar: Rs 770 per sq.ft (2024)
• Vaigundha Perumal Koil Street: Rs 880 per sq.ft (2024)
• Udhayam Nagar Extn: Rs 880 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial figure used during property transactions in Manimangalam A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees, which are essential costs associated with the transfer of ownership. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vignesh Avenue?

The current guideline value of Vignesh Avenue is Rs 770 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and then to Rs 770 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the median guideline value in Manimangalam A?

The median guideline value in Manimangalam A is Rs 880 per sq.ft. Vignesh Avenue's current value is below this median.

What are the stamp duty and registration fees for property in Vignesh Avenue?

For a plot of 1,000 sq.ft at the guideline value of Rs 770 per sq.ft, the total guideline value is Rs 7,70,000. The stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles property registrations for Vignesh Avenue?

The Padappai Sub Registrar Office handles property registrations for Vignesh Avenue. It is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.