Guideline Value for Vignesh Nagar

Vignesh Nagar guideline value

The current guideline value of Vignesh Nagar, located in Nallur village under the Sriperumpudur SRO, is Rs 350 per sq.ft, effective from 1 July 2024. This area is classified as a New House Site Type -III (Approved Lay-Out).

How the guideline value of Vignesh Nagar has changed

The guideline value for Vignesh Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 100 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2012. However, in the following revision in 2017, it decreased to Rs 234 per sq.ft. The value remained at Rs 350 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024.

From 2017 to 2023, the guideline value increased by 50%. Overall, from 2007 to 2024, there has been a substantial increase of 250% in the guideline value for Vignesh Nagar.

Guideline values in Nallur

In Nallur, there are 33 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 126 to Rs 700 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, positioning Vignesh Nagar's 2024 figure above this median.

• Vianayagapuri: Rs 250 per sq.ft (2024)
• VSS CBI OFFICERS COLONY Phase - 7: Rs 350 per sq.ft (2024)
• VSS CBI Police Officers Colony: Rs 350 per sq.ft (2024)
• Thirupathy Nagar: Rs 175 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 350 per sq.ft (2024)
• Sri Sastha Nagar: Rs 350 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 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total cost for these charges to Rs 31,500. It is important to note that 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 Nagar?

The Sub Registrar Office that covers Vignesh Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Nallur, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for both parties to agree upon a fair price for the property.

Frequently asked questions

What is the current guideline value of Vignesh Nagar?

The current guideline value of Vignesh Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated over the years, with a significant increase from Rs 100 per sq.ft in 2007 to Rs 350 per sq.ft in 2012. It then decreased to Rs 234 per sq.ft in 2017 but has remained at Rs 350 per sq.ft in both 2023 and 2024.

What is the median guideline value for streets in Nallur?

The median guideline value for streets in Nallur is Rs 250 per sq.ft, with Vignesh Nagar's current value being above this median.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot valued at Rs 3,50,000, the total stamp duty and registration fees would amount to Rs 31,500.

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

The Sub Registrar Office for Vignesh Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.