Guideline Value for Vignesh Nagar Extn.

Vignesh Nagar Extn. guideline value

The current guideline value of Vignesh Nagar Extn. is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Vignesh Nagar Extn. has changed

The guideline value of Vignesh Nagar Extn. has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 154 per sq.ft. This increased to Rs 600 per sq.ft in 2007, marking a significant rise of 290%. In 2012, the value reached Rs 3,000 per sq.ft, reflecting a remarkable increase of 400%. However, this figure decreased by 33% to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 3,300 per sq.ft, a change of 10%.

In summary, from 2003 to 2024, the overall increase in the guideline value for Vignesh Nagar Extn. is 2043%. The register has no figure for this street in 2002, indicating that it was not recorded in that year.

Guideline values in Zaminpallavaram

Within Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current figure for Vignesh Nagar Extn.

• Vignesh Nagar: Rs 3,300 per sq.ft (2024)
• Vigneshwar Nagar: Rs 3,300 per sq.ft (2024)
• Visalakshmi Nagar: Rs 3,300 per sq.ft (2024)
• Vishveshvaran Street: Rs 3,520 per sq.ft (2024)
• Viswanathan Cross Street: Rs 3,520 per sq.ft (2024)
• Viswanathan Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Vignesh Nagar Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vignesh Nagar Extn.?

The Sub Registrar Office that covers Vignesh Nagar Extn. is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Vignesh Nagar Extn.?

The current guideline value of Vignesh Nagar Extn. is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 154 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 2043%.

What are the other streets in Zaminpallavaram with the same guideline value?

Other streets in Zaminpallavaram with a guideline value of Rs 3,300 per sq.ft include Vignesh Nagar and Vigneshwar Nagar, among others.

What fees are associated with buying property in Vignesh Nagar Extn.?

When buying property in Vignesh Nagar Extn., you will incur a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vignesh Nagar Extn.?

The Sub Registrar Office for Vignesh Nagar Extn. is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.