Guideline Value for Vignesh Nagar

Vignesh Nagar guideline value

The current guideline value of Vignesh Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Tharapakkam village, under the Pammal SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vignesh Nagar has changed

In the 2017 revision, the guideline value was Rs 670 per sq.ft. It increased to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 sees the guideline value further increased by 10% to Rs 1,100 per sq.ft. The register has no figure for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The consistent rise in values reflects the changes made in the revisions over the years.

Guideline values in Tharapakkam

In Tharapakkam, there are 47 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which aligns with the guideline value of Vignesh Nagar.

• Vigneshwara Nagar: Rs 1,100 per sq.ft (2024)
• Vigneshwara Nagar Annexe: Rs 1,100 per sq.ft (2024)
• Victorial Nagar: Rs 1,100 per sq.ft (2024)
• Vgn Highland: Rs 3,575 per sq.ft (2024)
• Vellalar Street: Rs 1,100 per sq.ft (2024)
• Sri Krishna Garden: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Vignesh Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. The duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vignesh Nagar?

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

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

The guideline value is a crucial factor in property transactions in Tharapakkam. It serves as a benchmark for determining the stamp duty and registration fees during the sale or purchase of property.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that the transaction is documented accurately and legally. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Vignesh Nagar?

The current guideline value of Vignesh Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 670 per sq.ft to Rs 1,100 per sq.ft in 2024, reflecting a total increase of 64% over the years.

Which office handles property registrations in Vignesh Nagar?

The Pammal Sub Registrar Office is responsible for handling property registrations in Vignesh Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty and registration fees for properties in Vignesh Nagar?

For a property with a guideline value of Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

What other streets in Tharapakkam have similar guideline values?

Other streets in Tharapakkam, such as Vigneshwara Nagar, Vigneshwara Nagar Annexe, and Victorial Nagar, also have a guideline value of Rs 1,100 per sq.ft in 2024.