Guideline Value for Vignesh Nagar

Vignesh Nagar guideline value

The current guideline value of Vignesh Nagar, located in Kerugambakkam village under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Vignesh Nagar has changed

The guideline value for Vignesh Nagar has undergone several revisions over the years. In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, reflecting a change of +7%. The most recent 2024 revision set the guideline value at Rs 1,980 per sq.ft, marking a +10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by +18%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street, as the register does not list any values for those years.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Vignesh Nagar's 2024 figure below that median.

• Vigneshwara Nagar (ward 6): Rs 1,980 per sq.ft (2024)
• Vigneshwara Nagar (ward 7): Rs 1,980 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 1,840 per sq.ft (2024)
• V.G.N Pratish Avenue: Rs 2,860 per sq.ft (2024)
• V.G.N Nagar (ward 8): Rs 2,860 per sq.ft (2024)
• V.G.N Nagar (ward 4): Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Vignesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vignesh Nagar?

The Sub Registrar Office that covers Vignesh Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Kerugambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall transaction costs. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Vignesh Nagar?

The current guideline value of Vignesh Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 1,980 per sq.ft in 2024, showing an overall increase of +18% over this period.

What is the land classification of Vignesh Nagar?

Vignesh Nagar is classified as Residential Class II Type - II, which indicates its suitability for residential development.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vignesh Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 at 7%.